Rhumbline Advisers grew its stake in Old National Bancorp (NASDAQ:ONB – Free Report) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,077,322 shares of the bank’s stock after buying an additional 2,731 shares during the period. Rhumbline Advisers owned 0.37% of Old National Bancorp worth $15,535,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ONB. BlackRock Inc. raised its position in Old National Bancorp by 37.6% in the 1st quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock valued at $546,744,000 after purchasing an additional 9,124,230 shares during the last quarter. Vanguard Group Inc. raised its position in Old National Bancorp by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 30,592,620 shares of the bank’s stock valued at $503,862,000 after purchasing an additional 678,451 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Old National Bancorp by 10.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 19,684,936 shares of the bank’s stock valued at $353,935,000 after purchasing an additional 1,796,305 shares during the last quarter. State Street Corp raised its position in Old National Bancorp by 54.9% in the 1st quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock valued at $252,638,000 after purchasing an additional 5,465,409 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Old National Bancorp by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 5,637,115 shares of the bank’s stock valued at $101,355,000 after purchasing an additional 203,384 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.
Old National Bancorp Stock Down 0.4 %
Shares of NASDAQ ONB opened at $15.26 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.10. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $20.19. The firm has a 50-day moving average price of $15.45 and a 200 day moving average price of $14.75. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 7.10 and a beta of 0.86.
Old National Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.56 annualized dividend and a yield of 3.67%. Old National Bancorp’s dividend payout ratio (DPR) is currently 26.05%.
Insider Buying and Selling at Old National Bancorp
In other Old National Bancorp news, Chairman Michael L. Scudder sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $16.81, for a total transaction of $840,500.00. Following the completion of the transaction, the chairman now directly owns 215,796 shares in the company, valued at approximately $3,627,530.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
ONB has been the subject of a number of analyst reports. Stephens upped their price objective on shares of Old National Bancorp from $17.00 to $18.00 in a research report on Wednesday, July 26th. UBS Group upgraded shares of Old National Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.50 to $15.50 in a research report on Monday, July 10th. TheStreet upgraded shares of Old National Bancorp from a “c+” rating to a “b” rating in a research report on Friday, August 25th. Finally, StockNews.com initiated coverage on shares of Old National Bancorp in a research report on Saturday, August 19th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Old National Bancorp presently has an average rating of “Hold” and an average target price of $18.38.
Read Our Latest Research Report on ONB
Old National Bancorp Profile
Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.
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