Old National Bancorp (NASDAQ:ONB) Position Increased by Arizona State Retirement System

Arizona State Retirement System increased its position in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,647 shares of the bank’s stock after acquiring an additional 3,036 shares during the quarter. Arizona State Retirement System’s holdings in Old National Bancorp were worth $1,486,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Old National Bancorp by 50.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,603 shares of the bank’s stock valued at $26,000 after purchasing an additional 534 shares during the period. Group One Trading L.P. increased its stake in shares of Old National Bancorp by 472.0% in the third quarter. Group One Trading L.P. now owns 1,836 shares of the bank’s stock worth $30,000 after acquiring an additional 1,515 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in shares of Old National Bancorp during the fourth quarter worth $34,000. Quadrant Capital Group LLC lifted its stake in Old National Bancorp by 54.6% in the third quarter. Quadrant Capital Group LLC now owns 2,238 shares of the bank’s stock valued at $37,000 after acquiring an additional 790 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Old National Bancorp by 69.1% in the third quarter. Signaturefd LLC now owns 3,009 shares of the bank’s stock worth $50,000 after buying an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Buying and Selling

In other Old National Bancorp news, EVP John V. Moran acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average cost of $19.85 per share, for a total transaction of $49,625.00. Following the transaction, the executive vice president now owns 2,500 shares of the company’s stock, valued at $49,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James C. Ryan III purchased 8,200 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was purchased at an average cost of $12.22 per share, for a total transaction of $100,204.00. Following the completion of the purchase, the chief executive officer now directly owns 625,066 shares in the company, valued at $7,638,306.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John V. Moran bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was purchased at an average price of $19.85 per share, with a total value of $49,625.00. Following the completion of the purchase, the executive vice president now directly owns 2,500 shares in the company, valued at approximately $49,625. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 23,200 shares of company stock valued at $317,679 and have sold 84,308 shares valued at $1,510,217. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group initiated coverage on shares of Old National Bancorp in a report on Wednesday, March 15th. They issued a “neutral” rating and a $16.00 target price on the stock. Keefe, Bruyette & Woods dropped their price objective on Old National Bancorp from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. TheStreet downgraded Old National Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, May 5th. Finally, StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.00.

Old National Bancorp Trading Down 0.2 %

ONB opened at $12.10 on Friday. Old National Bancorp has a 1-year low of $11.66 and a 1-year high of $20.19. The stock has a market capitalization of $3.54 billion, a PE ratio of 6.02 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $16.78.

Old National Bancorp (NASDAQ:ONB – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Old National Bancorp had a net margin of 28.42% and a return on equity of 12.73%. The company had revenue of $457.84 million during the quarter, compared to analysts’ expectations of $456.00 million. During the same quarter in the previous year, the company earned $0.40 EPS. Old National Bancorp’s revenue was up 56.9% on a year-over-year basis. As a group, equities analysts anticipate that Old National Bancorp will post 2.06 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Tuesday, February 28th. Old National Bancorp’s dividend payout ratio is currently 27.86%.

Old National Bancorp Profile

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Old National Bancorp operates as a financial holding company. It engages in the provision of financial and banking solutions. The firm’s Community Banking segment provides commercial, real estate and consumer loans, time deposits, checking and savings accounts, cash management, brokerage, trust and investment advisory services.