Foundry Partners LLC raised its stake in Old National Bancorp (NASDAQ:ONB) by 9.3% during the second quarter, Holdings Channel reports. The fund owned 1,101,866 shares of the bank’s stock after buying an additional 93,355 shares during the period. Old National Bancorp comprises about 0.8% of Foundry Partners LLC’s holdings, making the stock its 14th largest position. Foundry Partners LLC’s holdings in Old National Bancorp were worth $19,007,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ONB. Suntrust Banks Inc. increased its position in shares of Old National Bancorp by 0.5% in the first quarter. Suntrust Banks Inc. now owns 21,217 shares of the bank’s stock valued at $368,000 after buying an additional 114 shares during the last quarter. Creative Planning increased its position in shares of Old National Bancorp by 1.0% in the second quarter. Creative Planning now owns 22,590 shares of the bank’s stock valued at $390,000 after buying an additional 213 shares during the last quarter. Boston Private Wealth LLC increased its position in shares of Old National Bancorp by 0.3% in the first quarter. Boston Private Wealth LLC now owns 84,231 shares of the bank’s stock valued at $1,461,000 after buying an additional 284 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Old National Bancorp by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 14,980 shares of the bank’s stock valued at $259,000 after buying an additional 370 shares during the last quarter. Finally, Pitcairn Co. increased its position in shares of Old National Bancorp by 5.4% in the first quarter. Pitcairn Co. now owns 11,147 shares of the bank’s stock valued at $194,000 after buying an additional 574 shares during the last quarter. 70.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Old National Bancorp (NASDAQ:ONB) opened at 16.45 on Friday. The company has a market capitalization of $2.23 billion, a PE ratio of 15.62 and a beta of 1.10. The stock’s 50 day moving average price is $16.81 and its 200 day moving average price is $17.17. Old National Bancorp has a 12-month low of $13.49 and a 12-month high of $18.95.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. During the same period last year, the firm posted $0.31 EPS. On average, equities research analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.16%. Old National Bancorp’s dividend payout ratio is 49.52%.

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Several brokerages have commented on ONB. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, May 25th. Jefferies Group LLC reissued a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Monday, May 15th. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $18.30.

In related news, insider John R. Kamin sold 7,332 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.79% of the company’s stock.

Old National Bancorp Company Profile

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.

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:ONB).

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

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