Old National Bancorp (ONB) Position Raised by LSV Asset Management

LSV Asset Management boosted its stake in Old National Bancorp (NASDAQ:ONB) by 31.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,500 shares of the bank’s stock after purchasing an additional 266,400 shares during the quarter. LSV Asset Management owned about 0.83% of Old National Bancorp worth $19,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Swiss National Bank grew its position in Old National Bancorp by 6.7% during the second quarter. Swiss National Bank now owns 225,184 shares of the bank’s stock valued at $3,884,000 after acquiring an additional 14,100 shares during the last quarter. Principal Financial Group Inc. grew its position in Old National Bancorp by 0.3% during the second quarter. Principal Financial Group Inc. now owns 1,053,400 shares of the bank’s stock valued at $18,171,000 after acquiring an additional 3,617 shares during the last quarter. Prudential Financial Inc. grew its position in Old National Bancorp by 1.5% during the second quarter. Prudential Financial Inc. now owns 934,026 shares of the bank’s stock valued at $16,112,000 after acquiring an additional 13,630 shares during the last quarter. Great Lakes Advisors LLC grew its position in Old National Bancorp by 21.7% during the second quarter. Great Lakes Advisors LLC now owns 278,258 shares of the bank’s stock valued at $4,800,000 after acquiring an additional 49,531 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its position in Old National Bancorp by 3.1% during the second quarter. Virginia Retirement Systems ET AL now owns 147,355 shares of the bank’s stock valued at $2,542,000 after acquiring an additional 4,400 shares during the last quarter. 72.90% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp (NASDAQ:ONB) opened at 16.45 on Wednesday. Old National Bancorp has a one year low of $13.53 and a one year high of $18.95. The company has a market cap of $2.23 billion, a PE ratio of 15.62 and a beta of 1.08. The stock has a 50 day moving average of $16.35 and a 200 day moving average of $16.88.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. During the same period in the prior year, the firm earned $0.31 EPS. On average, analysts anticipate that Old National Bancorp will post $1.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.52 annualized dividend and a yield of 3.16%. Old National Bancorp’s payout ratio is presently 49.52%.

A number of research analysts have commented on the stock. BidaskClub upgraded shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “hold – neutral” rating on shares of Old National Bancorp in a research report on Monday, June 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.30.

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In related news, insider John R. Kamin sold 7,332 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $17.03, for a total transaction of $124,863.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John R. Kamin sold 5,531 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company’s stock.

Old National Bancorp 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. The Company focuses on community banking.

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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