Mirae Asset Global Investments Co. Ltd. Purchases 59,738 Shares of Old National Bancorp (NASDAQ:ONB)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 43.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,537 shares of the bank’s stock after buying an additional 59,738 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Old National Bancorp were worth $3,336,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Old National Bancorp by 59.8% in the 1st quarter. Vanguard Group Inc. now owns 29,663,094 shares of the bank’s stock worth $485,881,000 after acquiring an additional 11,101,411 shares in the last quarter. BlackRock Inc. lifted its position in shares of Old National Bancorp by 37.6% during the first quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock valued at $546,744,000 after buying an additional 9,124,230 shares during the last quarter. State Street Corp boosted its holdings in shares of Old National Bancorp by 54.9% in the 1st quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock valued at $252,638,000 after buying an additional 5,465,409 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Old National Bancorp in the 1st quarter worth approximately $61,389,000. Finally, Channing Capital Management LLC lifted its position in Old National Bancorp by 550.2% during the third quarter. Channing Capital Management LLC now owns 3,722,335 shares of the bank’s stock valued at $54,123,000 after acquiring an additional 3,149,806 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Up 0.3 %

Old National Bancorp stock opened at $15.53 on Thursday. The firm has a market cap of $4.56 billion, a PE ratio of 8.01 and a beta of 0.83. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The stock’s 50 day simple moving average is $16.44 and its two-hundred day simple moving average is $15.84. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $689.85 million during the quarter, compared to analyst estimates of $448.87 million. Old National Bancorp had a net margin of 22.91% and a return on equity of 12.04%. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is presently 28.87%.

Analysts Set New Price Targets

ONB has been the topic of a number of recent analyst reports. Barclays initiated coverage on Old National Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $20.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. UBS Group cut their price target on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Stephens lowered their price objective on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Old National Bancorp Company Profile

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, agricultural loans, letters of credit, and lease financing.