Mutual of America Capital Management LLC Has $3.06 Million Stake in Old National Bancorp (NASDAQ:ONB)

Mutual of America Capital Management LLC lowered its holdings in Old National Bancorp (NASDAQ:ONB) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 180,848 shares of the bank’s stock after selling 9,371 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Old National Bancorp were worth $3,055,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONB. Vanguard Group Inc. boosted its stake in Old National Bancorp by 59.8% in the first quarter. Vanguard Group Inc. now owns 29,663,094 shares of the bank’s stock worth $485,881,000 after purchasing an additional 11,101,411 shares in the last quarter. BlackRock Inc. raised 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 worth $546,744,000 after acquiring an additional 9,124,230 shares during the last quarter. State Street Corp raised its position in shares of Old National Bancorp by 54.9% during the first quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock worth $252,638,000 after acquiring an additional 5,465,409 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Old National Bancorp during the first quarter worth $61,389,000. Finally, Channing Capital Management LLC raised its position 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 worth $54,123,000 after acquiring an additional 3,149,806 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ONB. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Stephens dropped their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Finally, Barclays started coverage on Old National Bancorp in a report on Friday, March 8th. They issued an “overweight” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

Old National Bancorp Trading Up 1.6 %

NASDAQ:ONB opened at $15.78 on Friday. Old National Bancorp has a 1-year low of $11.66 and a 1-year high of $17.64. The business’s 50-day moving average price is $16.44 and its two-hundred day moving average price is $15.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 8.13 and a beta of 0.83.

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

Old National Bancorp Dividend Announcement

The firm also recently declared 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 3.55%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s dividend payout ratio is currently 28.87%.

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.