Old National Bancorp (ONB) Stake Reduced by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC reduced its position in Old National Bancorp (NASDAQ:ONB) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 372,076 shares of the bank’s stock after selling 20,439 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.27% of Old National Bancorp worth $6,456,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in Old National Bancorp by 2.6% in the first quarter. Nisa Investment Advisors LLC now owns 47,400 shares of the bank’s stock worth $822,000 after buying an additional 1,200 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Old National Bancorp by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 55,100 shares of the bank’s stock worth $956,000 after buying an additional 800 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Old National Bancorp during the first quarter worth $201,000. First National Bank of Omaha increased its position in Old National Bancorp by 26.1% in the first quarter. First National Bank of Omaha now owns 106,785 shares of the bank’s stock worth $1,853,000 after buying an additional 22,070 shares in the last quarter. Finally, Creative Planning increased its position in Old National Bancorp by 21.2% in the first quarter. Creative Planning now owns 22,377 shares of the bank’s stock worth $388,000 after buying an additional 3,917 shares in the last quarter. 72.03% of the stock is owned by institutional investors and hedge funds.
Old National Bancorp (NASDAQ ONB) opened at 17.10 on Friday. The company has a market capitalization of $2.32 billion, a P/E ratio of 15.88 and a beta of 1.11. The company has a 50-day moving average of $16.62 and a 200 day moving average of $17.38. Old National Bancorp has a 12-month low of $12.34 and a 12-month high of $18.95.
Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 25th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The company had revenue of $148.72 million during the quarter, compared to analyst estimates of $152.43 million. Old National Bancorp had a net margin of 20.00% and a return on equity of 7.81%. During the same period in the previous year, the business posted $0.25 earnings per share. Equities research analysts forecast that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.52 annualized dividend and a yield of 3.04%. Old National Bancorp’s dividend payout ratio (DPR) is 48.15%.
A number of research firms have recently weighed in on ONB. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report 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 report on Monday, May 15th. BidaskClub raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a research report on Monday, June 12th. Finally, Hilliard Lyons raised shares of Old National Bancorp from an “underperform” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.50 in a research report on Thursday, April 27th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Old National Bancorp currently has an average rating of “Hold” and an average target price of $16.83.
In other Old National Bancorp news, COO James A. Sandgren bought 2,200 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was bought at an average cost of $16.70 per share, for a total transaction of $36,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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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