Heartland Advisors Inc. decreased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 50.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 595,625 shares of the company’s stock after selling 600,000 shares during the period. Heartland Advisors Inc. owned approximately 0.44% of Old National Bancorp worth $8,374,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in ONB. BlackRock Inc. raised its stake in Old National Bancorp by 153.6% in the first quarter. BlackRock Inc. now owns 8,720 shares of the company’s stock valued at $106,000 after buying an additional 5,282 shares in the last quarter. Fifth Third Bancorp increased its position in Old National Bancorp by 1.1% in the second quarter. Fifth Third Bancorp now owns 8,893 shares of the company’s stock valued at $111,000 after buying an additional 96 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Old National Bancorp during the second quarter valued at $127,000. Pitcairn Co. acquired a new position in Old National Bancorp during the second quarter valued at $139,000. Finally, Strategic Financial Group LLC acquired a new position in Old National Bancorp during the second quarter valued at $155,000. 70.20% of the stock is owned by hedge funds and other institutional investors.
Old National Bancorp (NASDAQ:ONB) traded down 0.143% on Friday, hitting $17.475. The stock had a trading volume of 151,417 shares. Old National Bancorp has a 12 month low of $10.69 and a 12 month high of $17.60. The company has a market cap of $2.36 billion, a PE ratio of 16.332 and a beta of 1.07. The company has a 50-day moving average of $15.02 and a 200 day moving average of $13.68.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Old National Bancorp had a return on equity of 7.62% and a net margin of 19.79%. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, analysts predict that Old National Bancorp will post $1.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.97%. The ex-dividend date is Tuesday, November 29th. Old National Bancorp’s dividend payout ratio is currently 48.60%.
Several research analysts have weighed in on the company. Raymond James Financial Inc. restated a “market perform” rating on shares of Old National Bancorp in a research note on Tuesday. They noted that the move was a valuation call. Zacks Investment Research upgraded Old National Bancorp from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research note on Thursday, November 3rd. Hovde Group assumed coverage on Old National Bancorp in a research note on Wednesday, August 3rd. They issued a “market perform” rating and a $14.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price target on Old National Bancorp from $13.00 to $13.50 and gave the stock a “market perform” rating in a research note on Tuesday, August 2nd. Seven equities 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 a consensus price target of $13.71.
About Old National Bancorp