3,304,196 Shares in Old National Bancorp (NASDAQ:ONB) Purchased by Norges Bank

Norges Bank bought a new position in Old National Bancorp (NASDAQ:ONBFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,304,196 shares of the bank’s stock, valued at approximately $55,808,000. Norges Bank owned about 1.13% of Old National Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Great Lakes Advisors LLC increased its stake in Old National Bancorp by 1,897.8% in the 3rd quarter. Great Lakes Advisors LLC now owns 286,384 shares of the bank’s stock valued at $4,164,000 after buying an additional 272,049 shares during the last quarter. Foundry Partners LLC grew its position in shares of Old National Bancorp by 2,494.5% during the 4th quarter. Foundry Partners LLC now owns 482,028 shares of the bank’s stock valued at $8,141,000 after acquiring an additional 463,449 shares during the period. Federated Hermes Inc. grew its position in shares of Old National Bancorp by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 341,484 shares of the bank’s stock valued at $5,768,000 after acquiring an additional 53,792 shares during the period. New York State Common Retirement Fund grew its position in shares of Old National Bancorp by 31.5% during the 4th quarter. New York State Common Retirement Fund now owns 1,191,832 shares of the bank’s stock valued at $20,130,000 after acquiring an additional 285,603 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Old National Bancorp by 79.1% during the 4th quarter. Pacer Advisors Inc. now owns 43,993 shares of the bank’s stock valued at $743,000 after acquiring an additional 19,430 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 0.8 %

Shares of NASDAQ:ONB opened at $16.76 on Wednesday. The firm has a fifty day moving average price of $16.79 and a two-hundred day moving average price of $16.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a one year low of $12.21 and a one year high of $17.82. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 9.06 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONBGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The firm had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. During the same period last year, the firm earned $0.54 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, June 5th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, June 5th. Old National Bancorp’s payout ratio is 30.27%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ONB shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Royal Bank of Canada reissued 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. Finally, Barclays increased their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. One 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. Based on data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Get Our Latest Analysis on Old National Bancorp

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the completion of the transaction, the chief financial officer now directly owns 88,712 shares of the company’s stock, valued at approximately $1,444,231.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

About Old National Bancorp

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ONB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old National Bancorp (NASDAQ:ONBFree Report).

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.