Old National Bancorp (NASDAQ:ONB) Stake Boosted by Fieldpoint Private Securities LLC

Fieldpoint Private Securities LLC increased its stake in Old National Bancorp (NASDAQ:ONBGet Rating) by 91.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,225 shares of the bank’s stock after purchasing an additional 1,060 shares during the quarter. Fieldpoint Private Securities LLC’s holdings in Old National Bancorp were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ONB. Invesco Ltd. grew its stake in Old National Bancorp by 110.7% during the 3rd quarter. Invesco Ltd. now owns 846,842 shares of the bank’s stock valued at $14,354,000 after acquiring an additional 445,009 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Old National Bancorp by 45.8% during the 3rd quarter. Millennium Management LLC now owns 820,738 shares of the bank’s stock valued at $13,912,000 after buying an additional 257,886 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Old National Bancorp during the 3rd quarter valued at about $576,000. Voloridge Investment Management LLC lifted its holdings in shares of Old National Bancorp by 160.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 271,975 shares of the bank’s stock valued at $4,610,000 after buying an additional 167,400 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Old National Bancorp during the 3rd quarter valued at about $947,000. 78.66% of the stock is currently owned by institutional investors.

Shares of ONB stock opened at $14.86 on Thursday. The firm has a market cap of $4.35 billion, a PE ratio of 14.57 and a beta of 0.80. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.77. Old National Bancorp has a 12 month low of $14.22 and a 12 month high of $20.81. The stock has a 50 day moving average of $15.42 and a 200-day moving average of $17.03.

Old National Bancorp (NASDAQ:ONBGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The bank reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Old National Bancorp had a return on equity of 8.31% and a net margin of 17.40%. The firm had revenue of $291.80 million for the quarter, compared to analysts’ expectations of $275.50 million. During the same period in the prior year, the business posted $0.52 earnings per share. The business’s revenue was up 40.1% compared to the same quarter last year. As a group, equities analysts predict that Old National Bancorp will post 1.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Tuesday, May 31st. Old National Bancorp’s dividend payout ratio (DPR) is 54.90%.

In other Old National Bancorp news, CFO Brendon B. Falconer acquired 3,000 shares of Old National Bancorp stock in a transaction on Monday, May 2nd. The shares were bought at an average price of $15.24 per share, with a total value of $45,720.00. Following the completion of the purchase, the chief financial officer now owns 3,000 shares in the company, valued at $45,720. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mark G. Sander acquired 7,000 shares of Old National Bancorp stock in a transaction on Monday, May 2nd. The stock was acquired at an average cost of $15.31 per share, for a total transaction of $107,170.00. Following the purchase, the chief operating officer now owns 387,564 shares of the company’s stock, valued at approximately $5,933,604.84. The disclosure for this purchase can be found here. Insiders acquired 24,720 shares of company stock worth $377,713 over the last quarter. Company insiders own 0.70% of the company’s stock.

Several equities research analysts have recently issued reports on ONB shares. TheStreet lowered Old National Bancorp from a “b” rating to a “c+” rating in a report on Friday, May 27th. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 31st. Finally, Stephens upgraded Old National Bancorp from an “equal weight” rating to an “overweight” rating and set a $19.00 target price for the company in a report on Friday, May 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Old National Bancorp Company Profile (Get Rating)

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, letters of credit, and lease financing.

Further Reading

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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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