Today, Old National Bancorp (ONB) Position Boosted by Macquarie Group Ltd.

Today, Old National Bancorp (ONB) Position Boosted by Macquarie Group Ltd.
Macquarie Group Ltd. increased its position in Old National Bancorp (NASDAQ:ONB) by 25.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,608,680 shares of the company’s stock after buying an additional 329,910 shares during the period. Macquarie Group Ltd.’s holdings in Old National Bancorp were worth $20,157,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of 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 period. Creative Planning boosted its position in shares of Old National Bancorp by 0.9% in the second quarter. Creative Planning now owns 13,107 shares of the company’s stock valued at $164,000 after buying an additional 121 shares during the period. Sei Investments Co. boosted its position in shares of Old National Bancorp by 0.5% in the second quarter. Sei Investments Co. now owns 29,070 shares of the company’s stock valued at $365,000 after buying an additional 131 shares during the period. Capstone Asset Management Co. boosted its position in shares of Old National Bancorp by 1.1% in the second quarter. Capstone Asset Management Co. now owns 29,146 shares of the company’s stock valued at $365,000 after buying an additional 320 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of Old National Bancorp by 9.5% in the second quarter. Quantitative Systematic Strategies LLC now owns 13,628 shares of the company’s stock valued at $167,000 after buying an additional 1,182 shares during the period. Institutional investors and hedge funds own 70.20% of the company’s stock.

Shares of Old National Bancorp (NASDAQ:ONB) traded down 0.29% on Friday, reaching $17.45. 286,496 shares of the company traded hands. The stock’s 50 day moving average price is $15.14 and its 200-day moving average price is $13.72. Old National Bancorp has a one year low of $10.69 and a one year high of $17.60. The stock has a market capitalization of $2.36 billion, a P/E ratio of 16.31 and a beta of 1.07.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. Old National Bancorp had a net margin of 19.79% and a return on equity of 7.62%. During the same period last year, the business posted $0.26 earnings per share. Equities analysts forecast that Old National Bancorp will post $1.02 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.98%. Old National Bancorp’s payout ratio is 48.60%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, October 5th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Old National Bancorp in a research report on Tuesday. They noted that the move was a valuation call. Hovde Group assumed coverage on shares of Old National Bancorp in a research report on Wednesday, August 3rd. They set a “market perform” rating and a $14.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $13.00 to $13.50 and gave the stock a “market perform” rating in a research report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.71.

About Old National Bancorp

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. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.

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