Mesirow Financial Investment Management Equity Management Has $7.90 Million Position in Old National Bancorp (ONB)
Mesirow Financial Investment Management Equity Management lowered its stake in Old National Bancorp (NASDAQ:ONB) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,822 shares of the bank’s stock after selling 118,215 shares during the quarter. Mesirow Financial Investment Management Equity Management’s holdings in Old National Bancorp were worth $7,897,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of ONB. BlackRock Inc. boosted its position in Old National Bancorp by 10.9% during the 3rd quarter. BlackRock Inc. now owns 21,974,559 shares of the bank’s stock worth $424,108,000 after acquiring an additional 2,157,610 shares during the period. FMR LLC boosted its position in Old National Bancorp by 45.2% during the 3rd quarter. FMR LLC now owns 2,656,578 shares of the bank’s stock worth $51,272,000 after acquiring an additional 827,547 shares during the period. Macquarie Group Ltd. boosted its position in Old National Bancorp by 25.2% during the 3rd quarter. Macquarie Group Ltd. now owns 2,845,532 shares of the bank’s stock worth $54,919,000 after acquiring an additional 572,794 shares during the period. Bank of America Corp DE boosted its position in Old National Bancorp by 221.2% during the 2nd quarter. Bank of America Corp DE now owns 622,535 shares of the bank’s stock worth $11,579,000 after acquiring an additional 428,734 shares during the period. Finally, Vanguard Group Inc boosted its position in Old National Bancorp by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 15,238,108 shares of the bank’s stock worth $294,096,000 after acquiring an additional 405,285 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.
ONB has been the subject of a number of research reports. Boenning Scattergood restated a “buy” rating on shares of Old National Bancorp in a research report on Tuesday, October 23rd. Piper Jaffray Companies set a $20.00 price objective on Old National Bancorp and gave the stock a “hold” rating in a research report on Wednesday, October 24th. BidaskClub lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Stephens restated a “buy” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Wednesday, December 19th. Finally, Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Old National Bancorp has an average rating of “Hold” and a consensus price target of $20.33.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). The firm had revenue of $204.38 million for the quarter, compared to analyst estimates of $194.62 million. Old National Bancorp had a net margin of 23.05% and a return on equity of 8.69%. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Equities analysts expect that Old National Bancorp will post 1.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 3.08%. Old National Bancorp’s dividend payout ratio is 40.31%.
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Old National Bancorp Company Profile
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
Further Reading: What is the Ex-Dividend Date in Investing?
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