Ameriprise Financial Inc. boosted its position in Old National Bancorp (NASDAQ:ONB) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,180,167 shares of the company’s stock after buying an additional 178,577 shares during the period. Ameriprise Financial Inc. owned approximately 0.87% of Old National Bancorp worth $14,788,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ONB. Ropes Wealth Advisors LLC purchased a new stake in Old National Bancorp during the second quarter worth $308,000. LSV Asset Management raised its stake in Old National Bancorp by 36.1% in the second quarter. LSV Asset Management now owns 1,363,756 shares of the company’s stock worth $17,087,000 after buying an additional 362,000 shares during the last quarter. Airain ltd purchased a new stake in Old National Bancorp during the second quarter worth $260,000. PNC Financial Services Group Inc. raised its stake in Old National Bancorp by 467.6% in the second quarter. PNC Financial Services Group Inc. now owns 66,081 shares of the company’s stock worth $829,000 after buying an additional 54,438 shares during the last quarter. Finally, Princeton Alpha Management LP raised its stake in Old National Bancorp by 207.1% in the second quarter. Princeton Alpha Management LP now owns 85,576 shares of the company’s stock worth $1,072,000 after buying an additional 57,714 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Old National Bancorp (NASDAQ:ONB) traded up 0.21% during midday trading on Friday, hitting $13.99. The stock had a trading volume of 796,840 shares. The company has a 50-day moving average price of $13.86 and a 200-day moving average price of $12.92. Old National Bancorp has a 12-month low of $10.69 and a 12-month high of $15.00. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 12.15 and a beta of 1.25.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.08. Old National Bancorp had a return on equity of 7.48% and a net margin of 20.28%. During the same period last year, the company posted $0.25 EPS. Equities analysts anticipate that Old National Bancorp will post $0.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Tuesday, August 30th. Old National Bancorp’s dividend payout ratio is currently 45.22%.
A number of research firms recently weighed in on ONB. Hovde Group began coverage on shares of Old National Bancorp in a research note on Wednesday, August 3rd. They set a “market perform” rating and a $14.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Old National Bancorp from $13.00 to $13.50 and gave the stock a “market perform” rating in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. Finally, Piper Jaffray Cos. initiated coverage on shares of Old National Bancorp in a research note on Monday, July 11th. They issued a “neutral” rating and a $13.50 price target on the stock. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $13.72.
In related news, insider Daryl D. Moore sold 33,442 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $13.80, for a total transaction of $461,499.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
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