Mason Street Advisors LLC bought a new position in Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 26,352 shares of the company’s stock, valued at approximately $330,000.
Several other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors L.L.C. increased its position in shares of Old National Bancorp by 351.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 45,100 shares of the company’s stock worth $550,000 after buying an additional 35,100 shares during the last quarter. Virginia Retirement System acquired a new position in shares of Old National Bancorp during the first quarter worth $1,156,000. BlackRock Inc. increased its position in shares of Old National Bancorp by 153.6% in the first quarter. BlackRock Inc. now owns 8,720 shares of the company’s stock worth $106,000 after buying an additional 5,282 shares during the last quarter. BlackRock Group LTD increased its position in shares of Old National Bancorp by 6.7% in the first quarter. BlackRock Group LTD now owns 161,224 shares of the company’s stock worth $1,965,000 after buying an additional 10,117 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Old National Bancorp by 1.0% in the first quarter. BlackRock Fund Advisors now owns 7,308,488 shares of the company’s stock worth $89,090,000 after buying an additional 75,797 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Shares of Old National Bancorp (NASDAQ:ONB) opened at 14.14 on Friday. The firm’s 50-day moving average is $13.91 and its 200-day moving average is $13.06. The company has a market cap of $1.91 billion, a PE ratio of 12.28 and a beta of 1.31. Old National Bancorp has a one year low of $10.69 and a one year high of $15.00.
Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. Old National Bancorp had a net margin of 20.28% and a return on equity of 7.48%. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, equities analysts anticipate that Old National Bancorp will post $0.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, August 30th. Old National Bancorp’s dividend payout ratio is 45.22%.
Several equities analysts recently commented on ONB shares. Piper Jaffray Cos. started coverage on Old National Bancorp in a research note on Monday, July 11th. They issued a “neutral” rating and a $13.50 price objective on the stock. Zacks Investment Research upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. Keefe, Bruyette & Woods upped their price objective on Old National Bancorp from $13.00 to $13.50 and gave the company a “market perform” rating in a research note on Tuesday, August 2nd. Finally, Hovde Group started coverage on Old National Bancorp in a research note on Wednesday, August 3rd. They issued a “market perform” rating and a $14.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Old National Bancorp has an average rating of “Hold” and a consensus target price of $13.81.
In related news, insider Daryl D. Moore sold 33,442 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $13.80, for a total transaction of $461,499.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.
Old National Bancorp Company Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
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