American Century Companies Inc. lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB – Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,124,185 shares of the bank’s stock after buying an additional 441,887 shares during the quarter. American Century Companies Inc.’s holdings in Old National Bancorp were worth $242,795,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Verition Fund Management LLC raised its stake in shares of Old National Bancorp by 48.9% during the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock worth $63,787,000 after buying an additional 1,240,952 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Old National Bancorp by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock worth $60,923,000 after buying an additional 203,088 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Old National Bancorp by 0.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock worth $57,553,000 after buying an additional 25,519 shares during the period. Norges Bank acquired a new position in shares of Old National Bancorp during the 4th quarter worth approximately $55,808,000. Finally, Victory Capital Management Inc. increased its position in shares of Old National Bancorp by 211.3% during the second quarter. Victory Capital Management Inc. now owns 2,922,022 shares of the bank’s stock worth $50,230,000 after purchasing an additional 1,983,476 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Old National Bancorp
In other news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the completion of the transaction, the insider now directly owns 117,676 shares in the company, valued at approximately $2,335,868.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at approximately $5,730,935.46. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.
Old National Bancorp Stock Down 1.6 %
Old National Bancorp (NASDAQ:ONB – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same period in the prior year, the business posted $0.54 EPS. On average, research analysts expect that Old National Bancorp will post 1.85 earnings per share for the current year.
Old National Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, September 5th. Old National Bancorp’s dividend payout ratio is presently 30.27%.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Royal Bank of Canada boosted their price target on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Hovde Group assumed coverage on Old National Bancorp in a research report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price target for the company. Finally, Barclays boosted their price target on Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.63.
Read Our Latest Analysis on Old National Bancorp
About Old National Bancorp
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.
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