Afam Capital Inc. Buys 4,126 Shares of Old National Bancorp (ONB)
Afam Capital Inc. boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 329,365 shares of the bank’s stock after acquiring an additional 4,126 shares during the quarter. Afam Capital Inc. owned about 0.24% of Old National Bancorp worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of ONB. Valeo Financial Advisors LLC acquired a new stake in shares of Old National Bancorp in the 3rd quarter valued at approximately $129,000. Advisor Group Inc. lifted its holdings in shares of Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after buying an additional 6,812 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Old National Bancorp by 7.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after buying an additional 717 shares during the period. Stifel Financial Corp acquired a new stake in shares of Old National Bancorp in the 3rd quarter valued at approximately $196,000. Finally, Adviser Investments LLC acquired a new stake in shares of Old National Bancorp in the 3rd quarter valued at approximately $212,000. 73.07% of the stock is owned by institutional investors.
Several research firms have recently commented on ONB. BidaskClub cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Boenning Scattergood began coverage on Old National Bancorp in a report on Wednesday, October 4th. They issued an “outperform” rating and a $20.50 price target for the company. ValuEngine raised Old National Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Raymond James Financial raised Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Tuesday, September 19th. Finally, Piper Jaffray Companies began coverage on Old National Bancorp in a report on Friday, October 6th. They issued a “neutral” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.92.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The firm had revenue of $154.84 million during the quarter, compared to the consensus estimate of $152.48 million. During the same period last year, the business posted $0.25 EPS. equities analysts predict that Old National Bancorp will post 1.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, November 30th. Old National Bancorp’s payout ratio is currently 47.71%.
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About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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