Prime Capital Investment Advisors LLC Makes New Investment in Old National Bancorp (NASDAQ:ONB)

Prime Capital Investment Advisors LLC acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,376 shares of the bank’s stock, valued at approximately $192,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Old National Bancorp by 37.6% during the 1st quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock worth $546,744,000 after buying an additional 9,124,230 shares during the period. Vanguard Group Inc. raised its holdings in Old National Bancorp by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 30,592,620 shares of the bank’s stock worth $503,862,000 after buying an additional 678,451 shares during the period. State Street Corp raised its holdings in Old National Bancorp by 54.9% during the 1st quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock worth $252,638,000 after buying an additional 5,465,409 shares during the period. American Century Companies Inc. grew its stake in Old National Bancorp by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank’s stock valued at $160,862,000 after acquiring an additional 308,892 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Old National Bancorp by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 5,872,351 shares of the bank’s stock valued at $84,679,000 after acquiring an additional 235,236 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Down 0.9 %

Shares of NASDAQ ONB opened at $15.81 on Monday. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 8.15 and a beta of 0.83. The business has a 50 day simple moving average of $16.46 and a 200 day simple moving average of $15.82. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $17.64. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. The company had revenue of $689.85 million during the quarter, compared to analyst estimates of $448.87 million. During the same quarter last year, the firm posted $0.56 earnings per share. On average, research analysts predict that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.54%. Old National Bancorp’s dividend payout ratio (DPR) is currently 28.87%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Stephens lowered their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Finally, Barclays initiated coverage on Old National Bancorp in a research note on Friday, March 8th. They set an “overweight” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Old National Bancorp Company 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.