Oregon Public Employees Retirement Fund Has $1.41 Million Stake in Old National Bancorp (NASDAQ:ONB)

Oregon Public Employees Retirement Fund grew its position in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,310 shares of the bank’s stock after buying an additional 610 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Old National Bancorp were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ONB. CWM LLC raised its stake in shares of Old National Bancorp by 535.4% in the 2nd quarter. CWM LLC now owns 3,317 shares of the bank’s stock valued at $49,000 after acquiring an additional 2,795 shares in the last quarter. Ronald Blue Trust Inc. bought a new position in shares of Old National Bancorp in the 2nd quarter valued at approximately $66,000. Chilton Capital Management LLC bought a new position in shares of Old National Bancorp in the 2nd quarter valued at approximately $84,000. Venture Visionary Partners LLC bought a new position in shares of Old National Bancorp in the 2nd quarter valued at approximately $101,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Old National Bancorp in the 2nd quarter worth approximately $119,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

ONB opened at $18.02 on Friday. The stock has a market cap of $5.28 billion, a PE ratio of 17.00 and a beta of 0.85. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75. Old National Bancorp has a 1 year low of $14.22 and a 1 year high of $20.19. The stock’s 50 day simple moving average is $18.18 and its 200-day simple moving average is $17.63.

Old National Bancorp (NASDAQ:ONB – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $461.92 million for the quarter, compared to analysts’ expectations of $438.18 million. Old National Bancorp had a return on equity of 10.06% and a net margin of 19.71%. Old National Bancorp’s quarterly revenue was up 120.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Sell-side analysts forecast that Old National Bancorp will post 1.97 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Wednesday, November 30th. Old National Bancorp’s dividend payout ratio is 52.83%.

Wall Street Analyst Weigh In

Several research analysts have commented on ONB shares. Royal Bank of Canada lifted their price target on Old National Bancorp from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 26th. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.67.

About Old National Bancorp

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Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.