Old National Bancorp (ONB) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors trimmed its position in Old National Bancorp (NASDAQ:ONB) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,013 shares of the bank’s stock after selling 11,639 shares during the period. Nationwide Fund Advisors owned approximately 0.10% of Old National Bancorp worth $2,450,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Old National Bancorp by 52,609.0% in the first quarter. BlackRock Inc. now owns 16,743,528 shares of the bank’s stock worth $290,500,000 after purchasing an additional 16,711,762 shares during the period. Vanguard Group Inc. lifted its position in Old National Bancorp by 4.9% in the first quarter. Vanguard Group Inc. now owns 12,455,653 shares of the bank’s stock worth $216,106,000 after purchasing an additional 586,666 shares during the period. State Street Corp lifted its position in Old National Bancorp by 8.5% in the first quarter. State Street Corp now owns 5,490,742 shares of the bank’s stock worth $95,272,000 after purchasing an additional 428,365 shares during the period. Bank of New York Mellon Corp lifted its position in Old National Bancorp by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 3,548,253 shares of the bank’s stock worth $61,207,000 after purchasing an additional 517,895 shares during the period. Finally, Macquarie Group Ltd. lifted its position in Old National Bancorp by 14.8% in the first quarter. Macquarie Group Ltd. now owns 2,068,520 shares of the bank’s stock worth $35,889,000 after purchasing an additional 266,890 shares during the period. Hedge funds and other institutional investors own 72.62% of the company’s stock.
Shares of Old National Bancorp (NASDAQ ONB) opened at 18.35 on Friday. The firm has a 50-day moving average price of $17.23 and a 200-day moving average price of $16.87. Old National Bancorp has a 52-week low of $13.74 and a 52-week high of $18.95. The firm has a market capitalization of $2.49 billion, a P/E ratio of 17.43 and a beta of 1.10.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. The firm had revenue of $153.60 million during the quarter, compared to analyst estimates of $153.57 million. During the same quarter in the previous year, the business earned $0.31 EPS. On average, equities research analysts anticipate that Old National Bancorp will post $1.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Wednesday, August 30th. Old National Bancorp’s dividend payout ratio is presently 49.52%.
ONB has been the subject of a number of research analyst reports. BidaskClub upgraded Old National Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Jefferies Group LLC restated a “hold” rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Friday, September 15th. Piper Jaffray Companies initiated coverage on Old National Bancorp in a research report on Friday, October 6th. They issued a “neutral” rating and a $19.00 target price for the company. Boenning Scattergood initiated coverage on Old National Bancorp in a research report on Wednesday, October 4th. They issued an “outperform” rating and a $20.50 target price for the company. Finally, Raymond James Financial, Inc. upgraded Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Tuesday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Old National Bancorp presently has an average rating of “Buy” and a consensus price target of $18.83.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.79% of the stock is currently owned by insiders.
Old National Bancorp 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.
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