Deprince Race & Zollo Inc. boosted its position in Old National Bancorp (NASDAQ:ONB) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,173,977 shares of the company’s stock after buying an additional 3,701 shares during the period. Deprince Race & Zollo Inc.’s holdings in Old National Bancorp were worth $39,770,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Old National Bancorp by 153.6% in the first quarter. BlackRock Inc. now owns 8,720 shares of the company’s stock worth $106,000 after buying an additional 5,282 shares during the period. Pitcairn Co. acquired a new stake in shares of Old National Bancorp during the second quarter worth $139,000. Creative Planning boosted its stake in shares of Old National Bancorp by 0.9% in the second quarter. Creative Planning now owns 13,107 shares of the company’s stock worth $164,000 after buying an additional 121 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Old National Bancorp by 14.2% in the first quarter. Envestnet Asset Management Inc. now owns 14,202 shares of the company’s stock worth $173,000 after buying an additional 1,765 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Old National Bancorp by 18.7% in the first quarter. Legal & General Group Plc now owns 26,069 shares of the company’s stock worth $319,000 after buying an additional 4,103 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.
Old National Bancorp (NASDAQ:ONB) traded up 2.33% during midday trading on Friday, reaching $14.06. 947,563 shares of the company traded hands. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.22 and a beta of 1.25. The firm’s 50 day moving average price is $13.86 and its 200 day moving average price is $12.97. Old National Bancorp has a 12 month low of $10.69 and a 12 month high of $15.00.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Old National Bancorp had a net margin of 20.28% and a return on equity of 7.48%. During the same quarter in the prior year, the company posted $0.25 EPS. On average, analysts expect that Old National Bancorp will post $0.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.70%. Old National Bancorp’s dividend payout ratio is currently 45.22%.
ONB has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 15th. Piper Jaffray Cos. initiated coverage on shares of Old National Bancorp in a research report on Monday, July 11th. They issued a “neutral” rating and a $13.50 price objective for the company. Hovde Group initiated coverage on shares of Old National Bancorp in a research report on Wednesday, August 3rd. They issued a “market perform” rating and a $14.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of Old National Bancorp from $13.00 to $13.50 and gave the stock a “market perform” rating in a research report on Tuesday, August 2nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $13.72.
In related news, insider Daryl D. Moore sold 33,442 shares of Old National Bancorp stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $13.80, for a total value of $461,499.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding ONB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old National Bancorp (NASDAQ:ONB).
Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.