Raymond James & Associates Increases Stock Position in Old National Bancorp (NASDAQ:ONB)

Raymond James & Associates increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,439 shares of the bank’s stock after purchasing an additional 13,620 shares during the period. Raymond James & Associates owned approximately 0.10% of Old National Bancorp worth $5,662,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,005 shares during the period. HHM Wealth Advisors LLC bought a new stake in Old National Bancorp during the second quarter valued at approximately $28,000. LRI Investments LLC purchased a new stake in Old National Bancorp during the first quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Old National Bancorp in the second quarter worth approximately $103,000. Finally, First Financial Corp IN boosted its stake in shares of Old National Bancorp by 176.8% during the 2nd quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock worth $105,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ONB shares. Royal Bank of Canada lifted their price objective on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Barclays upped their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. 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. Based on data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $20.43.

Old National Bancorp Trading Down 0.3 %

Shares of ONB opened at $19.26 on Friday. Old National Bancorp has a twelve month low of $13.33 and a twelve month high of $20.43. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96. The company’s fifty day simple moving average is $18.89 and its 200-day simple moving average is $17.93. The company has a market cap of $6.14 billion, a P/E ratio of 11.67 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 14.38%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

Old National Bancorp 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.