Old National Bancorp (NASDAQ:ONB) Shares Purchased by Quadrant Capital Group LLC

Quadrant Capital Group LLC boosted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 14.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,045 shares of the bank’s stock after purchasing an additional 1,020 shares during the period. Quadrant Capital Group LLC’s holdings in Old National Bancorp were worth $136,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ONB. Parkside Financial Bank & Trust boosted its holdings in shares of Old National Bancorp by 57.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after acquiring an additional 949 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new position in Old National Bancorp during the 4th quarter worth approximately $181,000. Trust Point Inc. acquired a new position in Old National Bancorp during the 4th quarter worth approximately $189,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at approximately $192,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Old National Bancorp by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock valued at $227,000 after buying an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the completion of the sale, the chief financial officer now directly owns 88,712 shares in the company, valued at $1,444,231.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ONB. Stephens reduced their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. UBS Group lowered their price target on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Barclays lifted their price objective on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a report on Tuesday, April 2nd. One 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. Based on data from MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Trading Down 1.4 %

Old National Bancorp stock opened at $17.08 on Thursday. The stock has a market cap of $5.45 billion, a PE ratio of 9.23 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $16.74 and a 200 day moving average price of $16.34. Old National Bancorp has a 52 week low of $12.21 and a 52 week high of $17.82.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Equities research analysts predict that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, June 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 3.28%. Old National Bancorp’s payout ratio is currently 30.27%.

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, agricultural loans, letters of credit, and lease financing.