Old National Bancorp (NASDAQ:ONB) Shares Purchased by Cwm LLC

Cwm LLC grew its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 8,429.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,578 shares of the bank’s stock after purchasing an additional 85,563 shares during the quarter. Cwm LLC’s holdings in Old National Bancorp were worth $1,462,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of Old National Bancorp by 57.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after purchasing an additional 949 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in shares of Old National Bancorp in the 4th quarter worth $181,000. Trust Point Inc. purchased a new position in shares of Old National Bancorp during the 4th quarter worth $189,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Old National Bancorp during the 4th quarter valued at about $192,000. Finally, Lynch & Associates IN grew its holdings in shares of Old National Bancorp by 18.9% in the third quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock valued at $177,000 after purchasing an additional 1,932 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 0.5 %

Shares of NASDAQ ONB opened at $16.57 on Friday. 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 stock has a market capitalization of $4.86 billion, a PE ratio of 8.96 and a beta of 0.83. Old National Bancorp has a twelve month low of $11.66 and a twelve month high of $17.64. The stock has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $15.93.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. Old National Bancorp’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, equities analysts forecast that Old National Bancorp will post 1.83 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. Investors of record on Tuesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s payout ratio is currently 30.27%.

Analysts Set New Price Targets

A number of equities analysts have commented on ONB shares. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens decreased their price objective on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Barclays raised their target price on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Finally, UBS Group cut their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $18.86.

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.