Old National Bancorp (NASDAQ:ONB) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lifted its position in shares of Old National Bancorp (NASDAQ:ONB) by 24.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,258 shares of the bank’s stock after purchasing an additional 650 shares during the period. Parkside Financial Bank & Trust’s holdings in Old National Bancorp were worth $55,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Old National Bancorp by 2.9% in the third quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank’s stock worth $160,862,000 after buying an additional 308,892 shares during the last quarter. Channing Capital Management LLC increased its stake in shares of Old National Bancorp by 550.2% in the third quarter. Channing Capital Management LLC now owns 3,722,335 shares of the bank’s stock worth $54,123,000 after buying an additional 3,149,806 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Old National Bancorp by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,139,232 shares of the bank’s stock worth $45,644,000 after buying an additional 11,423 shares during the last quarter. Boston Partners increased its stake in shares of Old National Bancorp by 35.6% in the third quarter. Boston Partners now owns 2,216,997 shares of the bank’s stock worth $31,994,000 after buying an additional 581,457 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Old National Bancorp by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,396,619 shares of the bank’s stock worth $23,589,000 after buying an additional 46,645 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Stephens lowered their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, UBS Group lowered their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Old National Bancorp Stock Down 0.5 %

ONB stock opened at $16.57 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64. The firm’s 50-day simple moving average is $16.47 and its 200 day simple moving average is $15.93. The stock has a market cap of $4.86 billion, a PE ratio of 8.96 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The business had revenue of $440.20 million for the quarter, compared to analysts’ expectations of $440.00 million. During the same quarter last year, the company earned $0.54 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.38%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Old National Bancorp Profile

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.