Old National Bancorp $ONB Position Decreased by NFJ Investment Group LLC

NFJ Investment Group LLC decreased its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,279,520 shares of the bank’s stock after selling 25,222 shares during the period. Old National Bancorp makes up 1.0% of NFJ Investment Group LLC’s portfolio, making the stock its 28th biggest holding. NFJ Investment Group LLC owned 0.33% of Old National Bancorp worth $28,546,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MAI Capital Management boosted its position in shares of Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after purchasing an additional 704 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Old National Bancorp during the 4th quarter valued at about $28,000. Rothschild Investment LLC boosted its position in shares of Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Old National Bancorp during the 4th quarter valued at about $36,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of Old National Bancorp by 811.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods upped their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Citigroup upped their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Finally, Stephens upped their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Price Performance

Shares of ONB opened at $25.14 on Friday. The firm has a market cap of $9.71 billion, a PE ratio of 12.96 and a beta of 0.84. The firm’s 50 day moving average price is $23.74 and its 200 day moving average price is $23.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. Old National Bancorp has a twelve month low of $19.39 and a twelve month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, research analysts expect that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.