82,200 Shares in Old National Bancorp (NASDAQ:ONB) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Old National Bancorp (NASDAQ:ONB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,200 shares of the bank’s stock, valued at approximately $1,388,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Old National Bancorp during the second quarter worth $32,000. Parkside Financial Bank & Trust raised its position in Old National Bancorp by 57.2% during the third quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock worth $38,000 after acquiring an additional 949 shares during the period. Money Concepts Capital Corp acquired a new position in Old National Bancorp during the fourth quarter worth $39,000. Ronald Blue Trust Inc. raised its position in Old National Bancorp by 55.6% during the third quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank’s stock worth $40,000 after acquiring an additional 1,036 shares during the period. Finally, Quarry LP raised its position in Old National Bancorp by 115.1% during the first quarter. Quarry LP now owns 2,925 shares of the bank’s stock worth $42,000 after acquiring an additional 1,565 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ONB shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 2nd. UBS Group reduced their price objective on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Barclays began coverage on shares of Old National Bancorp in a research report on Friday, March 8th. They set an “overweight” rating and a $20.00 price objective for the company. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, Stephens reduced their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $16.19 on Monday. Old National Bancorp has a 12-month low of $11.66 and a 12-month high of $17.64. The stock has a market cap of $4.75 billion, a P/E ratio of 8.35 and a beta of 0.83. The company has a 50-day moving average price of $16.44 and a 200 day moving average price of $15.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.46 earnings per share (EPS) 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 firm had revenue of $689.85 million for the quarter, compared to analyst estimates of $448.87 million. During the same quarter in the previous year, the business posted $0.56 earnings per share. Sell-side analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, March 4th. Old National Bancorp’s payout ratio is currently 28.87%.

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.