Raymond James Financial Services Advisors Inc. Purchases 8,099 Shares of Old National Bancorp (NASDAQ:ONB)

Raymond James Financial Services Advisors Inc. increased its stake in Old National Bancorp (NASDAQ:ONB) by 28.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,742 shares of the bank’s stock after acquiring an additional 8,099 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Old National Bancorp were worth $621,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Great Lakes Advisors LLC raised its stake in Old National Bancorp by 1,897.8% in the third quarter. Great Lakes Advisors LLC now owns 286,384 shares of the bank’s stock worth $4,164,000 after buying an additional 272,049 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Old National Bancorp by 66.7% during the third quarter. Victory Capital Management Inc. now owns 1,017,019 shares of the bank’s stock valued at $14,787,000 after purchasing an additional 406,970 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Old National Bancorp by 18.2% during the third quarter. Deutsche Bank AG now owns 148,602 shares of the bank’s stock valued at $2,161,000 after purchasing an additional 22,839 shares in the last quarter. Channing Capital Management LLC increased its stake in shares of 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 purchasing an additional 3,149,806 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Old National Bancorp by 2.8% during the third quarter. Sei Investments Co. now owns 1,172,574 shares of the bank’s stock valued at $17,049,000 after purchasing an additional 32,395 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 0.3 %

NASDAQ:ONB opened at $15.53 on Thursday. The company’s 50 day moving average price is $16.44 and its 200-day moving average price is $15.84. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $17.64. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 8.01 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last issued 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). Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. The company had revenue of $689.85 million during the quarter, compared to analysts’ expectations of $448.87 million. During the same quarter in the prior year, the business posted $0.56 EPS. On average, equities research analysts forecast that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s dividend payout ratio is currently 28.87%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ONB shares. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Stephens decreased their target price 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. Barclays began coverage on shares of Old National Bancorp in a research note on Friday, March 8th. They set an “overweight” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.71.

About Old National Bancorp

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.