Virginia Retirement Systems ET AL bought a new position in shares of Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,755 shares of the company’s stock, valued at approximately $1,237,000. Virginia Retirement Systems ET AL owned 0.07% of Old National Bancorp at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Old National Bancorp by 153.6% in the first quarter. BlackRock Inc. now owns 8,720 shares of the company’s stock valued at $106,000 after buying an additional 5,282 shares during the period. Pitcairn Co. bought a new position in Old National Bancorp during the second quarter valued at approximately $139,000. Strategic Financial Group LLC bought a new position in Old National Bancorp during the second quarter valued at approximately $155,000. Creative Planning increased its position in Old National Bancorp by 0.9% in the second quarter. Creative Planning now owns 13,107 shares of the company’s stock valued at $164,000 after buying an additional 121 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its position in Old National Bancorp by 9.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 13,628 shares of the company’s stock valued at $167,000 after buying an additional 1,182 shares during the period. 70.10% of the stock is currently owned by institutional investors.
Shares of Old National Bancorp (NASDAQ:ONB) opened at 13.90 on Thursday. The company has a market cap of $1.88 billion, a P/E ratio of 12.08 and a beta of 1.25. The company’s 50-day moving average price is $13.86 and its 200 day moving average price is $12.96. Old National Bancorp has a 52 week low of $10.69 and a 52 week 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, topping analysts’ consensus estimates 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 in the previous year, the business posted $0.25 earnings per share. Equities research analysts anticipate that Old National Bancorp will post $0.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders 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 3.74%. Old National Bancorp’s payout ratio is currently 45.22%.
Several research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price objective on 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. Hovde Group initiated coverage on 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. Piper Jaffray Cos. initiated coverage on Old National Bancorp in a research note on Monday, July 11th. They set a “neutral” rating and a $13.50 target price on the stock. Finally, Zacks Investment Research raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Old National Bancorp presently has a consensus rating of “Hold” and an average target price of $13.72.
In other Old National Bancorp news, insider Daryl D. Moore sold 33,442 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.
Old National Bancorp Company Profile
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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