Old National Bancorp (ONB) Shares Sold by Private Management Group Inc.
Private Management Group Inc. lessened its position in Old National Bancorp (NASDAQ:ONB) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,394,744 shares of the bank’s stock after selling 6,768 shares during the quarter. Old National Bancorp makes up about 1.3% of Private Management Group Inc.’s holdings, making the stock its 27th biggest holding. Private Management Group Inc. owned 1.03% of Old National Bancorp worth $25,524,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ONB. Deprince Race & Zollo Inc. lifted its position in Old National Bancorp by 1.1% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,777,275 shares of the bank’s stock worth $32,524,000 after buying an additional 19,996 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Old National Bancorp by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,590,299 shares of the bank’s stock worth $65,703,000 after buying an additional 42,046 shares in the last quarter. Advisor Group Inc. lifted its position in Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after buying an additional 6,812 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Old National Bancorp by 48.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 58,080 shares of the bank’s stock worth $1,062,000 after buying an additional 18,880 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Old National Bancorp by 95.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 81,466 shares of the bank’s stock worth $1,491,000 after buying an additional 39,688 shares in the last quarter. Institutional investors and hedge funds own 71.96% of the company’s stock.
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Old National Bancorp (ONB) traded down $0.25 during trading on Wednesday, hitting $16.90. 1,461,000 shares of the stock were exchanged, compared to its average volume of 798,783. The company has a market cap of $2,324.22, a P/E ratio of 14.78 and a beta of 1.04. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $154.84 million for the quarter, compared to the consensus estimate of $152.48 million. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. During the same quarter last year, the firm earned $0.25 EPS. equities research analysts anticipate that Old National Bancorp will post 1.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. Old National Bancorp’s dividend payout ratio is currently 47.71%.
A number of research firms have issued reports on ONB. BidaskClub downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. ValuEngine downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Friday, August 11th. Boenning Scattergood began coverage on shares of 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 shares of 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Old National Bancorp has a consensus rating of “Hold” and a consensus target price of $18.92.
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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