Old National Bancorp (NASDAQ:ONB) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its stake in Old National Bancorp (NASDAQ:ONB – Get Rating) by 10.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,143,262 shares of the bank’s stock after acquiring an additional 110,215 shares during the quarter. First Trust Advisors LP’s holdings in Old National Bancorp were worth $20,556,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Raymond James & Associates lifted its holdings in shares of Old National Bancorp by 579.7% in the first quarter. Raymond James & Associates now owns 107,774 shares of the bank’s stock valued at $1,765,000 after purchasing an additional 91,918 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Old National Bancorp by 16.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,494 shares of the bank’s stock valued at $598,000 after purchasing an additional 5,032 shares during the period. US Bancorp DE lifted its position in shares of Old National Bancorp by 420.6% in the first quarter. US Bancorp DE now owns 42,408 shares of the bank’s stock worth $696,000 after purchasing an additional 34,262 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Old National Bancorp by 34.5% during the first quarter. Cetera Advisor Networks LLC now owns 14,433 shares of the bank’s stock worth $236,000 after purchasing an additional 3,701 shares during the period. Finally, Rhumbline Advisers grew its position in Old National Bancorp by 97.7% during the first quarter. Rhumbline Advisers now owns 953,125 shares of the bank’s stock valued at $15,612,000 after purchasing an additional 470,904 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old National Bancorp

In other news, CEO James C. Ryan III acquired 8,200 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $12.22 per share, with a total value of $100,204.00. Following the completion of the purchase, the chief executive officer now owns 625,066 shares of the company’s stock, valued at $7,638,306.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO James C. Ryan III bought 8,200 shares of Old National Bancorp stock in a transaction dated Thursday, May 4th. The shares were bought at an average cost of $12.22 per share, for a total transaction of $100,204.00. Following the completion of the transaction, the chief executive officer now owns 625,066 shares of the company’s stock, valued at $7,638,306.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John V. Moran acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average price of $19.85 per share, with a total value of $49,625.00. Following the transaction, the executive vice president now directly owns 2,500 shares in the company, valued at $49,625. The disclosure for this purchase can be found here. Insiders have purchased 23,200 shares of company stock worth $317,679 over the last three months. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ONB. TheStreet cut Old National Bancorp from a “b-” rating to a “c+” rating in a research report on Friday, May 5th. UBS Group began coverage on Old National Bancorp in a report on Wednesday, March 15th. They issued a “neutral” rating and a $16.00 price objective on the stock. StockNews.com assumed coverage on shares of Old National Bancorp in a research report on Thursday. They issued a “sell” rating for the company. Finally, Keefe, Bruyette & Woods cut their price target on shares of Old National Bancorp from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Hold” and an average target price of $20.00.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $12.66 on Monday. The firm has a market capitalization of $3.70 billion, a PE ratio of 6.30 and a beta of 0.81. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. Old National Bancorp has a 1 year low of $11.66 and a 1 year high of $20.19. The firm’s fifty day simple moving average is $13.62 and its 200 day simple moving average is $16.47.

Old National Bancorp (NASDAQ:ONB – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Old National Bancorp had a return on equity of 12.73% and a net margin of 28.42%. The company had revenue of $457.84 million for the quarter, compared to the consensus estimate of $456.00 million. During the same period in the previous year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 56.9% on a year-over-year basis. On average, sell-side analysts anticipate that Old National Bancorp will post 2.06 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Wednesday, May 31st. Old National Bancorp’s dividend payout ratio is 27.86%.

About Old National Bancorp

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Old National Bancorp operates as a financial holding company. It engages in the provision of financial and banking solutions. The firm’s Community Banking segment provides commercial, real estate and consumer loans, time deposits, checking and savings accounts, cash management, brokerage, trust and investment advisory services.