Old National Bancorp (NASDAQ:ONB) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in shares of Old National Bancorp (NASDAQ:ONB) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,191,832 shares of the bank’s stock after buying an additional 285,603 shares during the period. New York State Common Retirement Fund owned 0.41% of Old National Bancorp worth $20,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its position in Old National Bancorp by 4.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 51,159 shares of the bank’s stock valued at $744,000 after purchasing an additional 2,200 shares during the last quarter. Bfsg LLC acquired a new position in Old National Bancorp in the 3rd quarter valued at about $199,000. Raymond James & Associates raised its stake in Old National Bancorp by 7.1% during the 3rd quarter. Raymond James & Associates now owns 299,281 shares of the bank’s stock valued at $4,352,000 after acquiring an additional 19,903 shares during the last quarter. Lynch & Associates IN lifted its position in Old National Bancorp by 18.9% during the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after acquiring an additional 1,932 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Old National Bancorp by 24.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,818 shares of the bank’s stock valued at $812,000 after purchasing an additional 11,074 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ONB. Barclays upped their price target on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Stephens lowered their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Finally, UBS Group lowered their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.86.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $16.57 on Friday. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 8.96 and a beta of 0.83. The business’s 50 day simple moving average is $16.47 and its 200-day simple moving average is $15.94. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million for the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. Old National Bancorp’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, equities analysts forecast that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 3.38%. Old National Bancorp’s dividend payout ratio is presently 30.27%.

Old National Bancorp Company 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.