Raymond James Financial Services Advisors Inc. decreased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,932 shares of the bank’s stock after selling 475 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Old National Bancorp were worth $346,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Guggenheim Capital LLC raised its stake in shares of Old National Bancorp by 13.5% in the fourth quarter. Guggenheim Capital LLC now owns 100,974 shares of the bank’s stock valued at $1,833,000 after buying an additional 11,989 shares during the period. North Star Investment Management Corp. raised its stake in shares of Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock valued at $105,000 after buying an additional 1,225 shares during the period. State Street Corp raised its stake in shares of Old National Bancorp by 44.4% in the fourth quarter. State Street Corp now owns 5,062,377 shares of the bank’s stock valued at $91,879,000 after buying an additional 1,557,729 shares during the period. Teachers Advisors LLC raised its stake in shares of Old National Bancorp by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 229,014 shares of the bank’s stock valued at $4,157,000 after buying an additional 9,469 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Old National Bancorp during the first quarter valued at $201,000. 72.04% of the stock is owned by hedge funds and other institutional investors.

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

Old National Bancorp (NASDAQ:ONB) opened at 17.30 on Friday. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 16.06 and a beta of 1.12. Old National Bancorp has a 12-month low of $11.58 and a 12-month high of $18.95. The firm’s 50-day moving average price is $16.67 and its 200-day moving average price is $17.41.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $148.72 million during the quarter, compared to analysts’ expectations of $152.43 million. Old National Bancorp had a return on equity of 7.81% and a net margin of 20.00%. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, equities analysts predict that Old National Bancorp will post $1.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, May 30th. Old National Bancorp’s payout ratio is 48.15%.

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Several equities research analysts recently weighed in on ONB shares. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, May 16th. Royal Bank Of Canada reissued a “hold” rating and issued a $19.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 4th. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price objective on shares of Old National Bancorp in a report on Monday, May 15th. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. Eight investment analysts have rated the stock with a hold rating, Old National Bancorp presently has a consensus rating of “Hold” and an average target price of $16.21.

In related news, COO James A. Sandgren purchased 2,200 shares of Old National Bancorp stock in a transaction on Monday, May 1st. The stock was acquired at an average price of $16.70 per share, for a total transaction of $36,740.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.

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