Private Management Group Inc. reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 31.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,410,000 shares of the bank’s stock after selling 653,106 shares during the period. Old National Bancorp makes up about 1.4% of Private Management Group Inc.’s portfolio, making the stock its 22nd largest position. Private Management Group Inc. owned 1.04% of Old National Bancorp worth $24,464,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Old National Bancorp by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,321,691 shares of the bank’s stock worth $187,339,000 after buying an additional 430,698 shares during the period. State Street Corp increased its stake in Old National Bancorp by 44.4% in the fourth quarter. State Street Corp now owns 5,062,377 shares of the bank’s stock worth $91,879,000 after buying an additional 1,557,729 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Old National Bancorp by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,554,808 shares of the bank’s stock worth $49,981,000 after buying an additional 122,633 shares during the period. Bank of New York Mellon Corp increased its stake in Old National Bancorp by 51.7% in the first quarter. Bank of New York Mellon Corp now owns 3,030,358 shares of the bank’s stock worth $52,576,000 after buying an additional 1,032,164 shares during the period. Finally, OLD National Bancorp IN increased its stake in Old National Bancorp by 3.9% in the third quarter. OLD National Bancorp IN now owns 1,958,016 shares of the bank’s stock worth $27,530,000 after buying an additional 74,245 shares during the period. Hedge funds and other institutional investors own 72.04% of the company’s stock.
Shares of Old National Bancorp (NASDAQ:ONB) traded down 1.14% during midday trading on Friday, hitting $17.30. The stock had a trading volume of 2,644,670 shares. The firm has a 50-day moving average price of $16.67 and a 200-day moving average price of $17.41. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 16.06 and a beta of 1.12. Old National Bancorp has a 1-year low of $11.58 and a 1-year high of $18.95.
Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 25th. The bank reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $148.72 million for the quarter, compared to the consensus estimate of $152.43 million. Old National Bancorp had a net margin of 20.00% and a return on equity of 7.81%. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities analysts anticipate that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, May 30th. Old National Bancorp’s payout ratio is 48.15%.
A number of equities research analysts have issued reports on ONB shares. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, May 16th. Royal Bank of Canada reissued a “hold” rating and set a $19.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 4th. Jefferies Group LLC reissued a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Monday, May 15th. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research report on Monday. Eight research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $16.21.
In other Old National Bancorp news, COO James A. Sandgren bought 2,200 shares of the stock in a transaction on Monday, May 1st. The shares were purchased at an average cost of $16.70 per share, with a total value of $36,740.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.79% 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. The Company focuses on community banking.
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