State of New Jersey Common Pension Fund D purchased a new stake in Old National Bancorp (NASDAQ:ONB – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 139,546 shares of the bank’s stock, valued at approximately $2,286,000. State of New Jersey Common Pension Fund D owned approximately 0.08% of Old National Bancorp at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ONB. UMB Bank N A MO acquired a new stake in Old National Bancorp in the fourth quarter valued at $25,000. Tyler Stone Wealth Management acquired a new stake in Old National Bancorp in the fourth quarter valued at $26,000. Fieldpoint Private Securities LLC raised its stake in Old National Bancorp by 91.0% in the first quarter. Fieldpoint Private Securities LLC now owns 2,225 shares of the bank’s stock valued at $36,000 after buying an additional 1,060 shares in the last quarter. Fifth Third Bancorp raised its stake in Old National Bancorp by 92.0% in the first quarter. Fifth Third Bancorp now owns 3,223 shares of the bank’s stock valued at $53,000 after buying an additional 1,544 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Old National Bancorp by 94.1% during the first quarter. Versant Capital Management Inc now owns 3,237 shares of the bank’s stock worth $53,000 after purchasing an additional 1,569 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Piper Sandler lifted their target price on Old National Bancorp to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Stephens upgraded Old National Bancorp from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a research report on Friday, May 13th. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, TheStreet cut Old National Bancorp from a “b” rating to a “c+” rating in a research report on Friday, May 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average target price of $20.75.
Old National Bancorp Stock Performance
Old National Bancorp (NASDAQ:ONB – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. Old National Bancorp had a return on equity of 13.85% and a net margin of 18.42%. During the same period last year, the firm posted $0.41 EPS. As a group, equities research analysts forecast that Old National Bancorp will post 1.85 EPS for the current year.
Old National Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, May 31st. Old National Bancorp’s dividend payout ratio is presently 54.90%.
About Old National Bancorp
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.
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