UBS Asset Management Americas Inc. boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 16.2% during the second quarter, Holdings Channel reports. The firm owned 95,567 shares of the company’s stock after buying an additional 13,292 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of Old National Bancorp worth $1,198,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in Old National Bancorp during the second quarter worth $24,624,000. Foundry Partners LLC increased its position in Old National Bancorp by 2,602.5% in the second quarter. Foundry Partners LLC now owns 867,437 shares of the company’s stock worth $10,869,000 after buying an additional 835,340 shares in the last quarter. LSV Asset Management increased its position in Old National Bancorp by 36.1% in the second quarter. LSV Asset Management now owns 1,363,756 shares of the company’s stock worth $17,087,000 after buying an additional 362,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Old National Bancorp by 12.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,276,296 shares of the company’s stock worth $39,938,000 after buying an additional 357,207 shares in the last quarter. Finally, Ngam Advisors L.P. bought a new position in Old National Bancorp during the second quarter worth $3,031,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Old National Bancorp (NASDAQ:ONB) traded up 0.65% during mid-day trading on Friday, reaching $13.89. 804,120 shares of the company’s stock traded hands. The company has a market cap of $1.88 billion, a P/E ratio of 12.07 and a beta of 1.31. The stock has a 50 day moving average of $13.94 and a 200 day moving average of $13.12. Old National Bancorp has a 12-month low of $10.69 and a 12-month high of $15.00.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Monday, August 1st. The company reported $0.31 earnings per share for the quarter, beating the 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 previous year, the business earned $0.25 earnings per share. On average, equities research analysts predict that Old National Bancorp will post $0.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 3.74%. Old National Bancorp’s payout ratio is 45.22%.
A number of research firms have recently weighed in on ONB. Keefe, Bruyette & Woods increased their target price on shares of Old National Bancorp from $13.00 to $13.50 and gave the company a “market perform” rating in a research report on Tuesday, August 2nd. Hovde Group began coverage on shares of Old National Bancorp in a research report on Wednesday, August 3rd. They set a “market perform” rating and a $14.00 target price for the company. Piper Jaffray Cos. began coverage on shares of Old National Bancorp in a research report on Monday, July 11th. They set a “neutral” rating and a $13.50 target price for the company. Finally, Zacks Investment Research downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.81.
In other news, insider Daryl D. Moore sold 33,442 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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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