1,193,779 Shares in Old National Bancorp $ONB Bought by NFJ Investment Group LLC

NFJ Investment Group LLC bought a new position in shares of Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 1,193,779 shares of the bank’s stock, valued at approximately $30,919,000.

A number of other institutional investors have also recently made changes to their positions in ONB. Royal Bank of Canada lifted its stake in shares of Old National Bancorp by 2.0% in the first quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock worth $4,536,000 after acquiring an additional 4,153 shares during the period. Jones Financial Companies Lllp increased its position in Old National Bancorp by 87.8% during the 1st quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after purchasing an additional 5,936 shares during the period. Goldman Sachs Group Inc. increased its position in Old National Bancorp by 8.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock valued at $60,263,000 after purchasing an additional 215,203 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Old National Bancorp by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock worth $19,349,000 after purchasing an additional 64,110 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Old National Bancorp by 6.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 53,853 shares of the bank’s stock worth $1,149,000 after purchasing an additional 3,091 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB stock opened at $25.83 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50-day simple moving average of $26.20 and a two-hundred day simple moving average of $24.47. The company has a market capitalization of $9.88 billion, a P/E ratio of 11.48 and a beta of 0.84. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $27.36.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The firm had revenue of $726.86 million during the quarter, compared to the consensus estimate of $716.25 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts expect that Old National Bancorp will post 2.6 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Saturday, September 5th will be issued a dividend of $0.145 per share. The ex-dividend date is Friday, September 4th. This represents a $0.58 annualized dividend and a yield of 2.2%. Old National Bancorp’s dividend payout ratio is 25.78%.

Insiders Place Their Bets

In other Old National Bancorp news, insider Nicholas J. Chulos sold 20,000 shares of Old National Bancorp stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider directly owned 53,544 shares of the company’s stock, valued at $1,427,483.04. The trade was a 27.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the transaction, the chief executive officer directly owned 63,531 shares in the company, valued at $1,677,853.71. This represents a 15.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

ONB has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Old National Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Stephens boosted their price objective on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. UBS Group began coverage on shares of Old National Bancorp in a research report on Tuesday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.36.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.