Russell Investments Group Ltd. Has $2.49 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Russell Investments Group Ltd. lowered its position in shares of Old National Bancorp (NASDAQ:ONB) by 58.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,764 shares of the bank’s stock after selling 164,175 shares during the quarter. Russell Investments Group Ltd.’s holdings in Old National Bancorp were worth $2,491,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Old National Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank’s stock valued at $736,261,000 after buying an additional 290,005 shares during the last quarter. Wellington Management Group LLP lifted its stake in Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock valued at $189,374,000 after acquiring an additional 7,872,318 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Old National Bancorp by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank’s stock valued at $163,899,000 after acquiring an additional 326,135 shares during the period. William Blair Investment Management LLC increased its stake in shares of Old National Bancorp by 172.1% during the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after purchasing an additional 3,474,578 shares during the last quarter. Finally, Channing Capital Management LLC raised its holdings in shares of Old National Bancorp by 12.4% in the 4th quarter. Channing Capital Management LLC now owns 4,618,462 shares of the bank’s stock valued at $100,244,000 after purchasing an additional 509,028 shares during the period. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 0.7 %

NASDAQ:ONB opened at $19.59 on Friday. Old National Bancorp has a one year low of $15.52 and a one year high of $24.49. The company has a market cap of $6.25 billion, a PE ratio of 11.66 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a 50-day moving average of $21.36 and a 200-day moving average of $21.41.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period last year, the firm earned $0.46 EPS. As a group, equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ONB. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Monday. Barclays decreased their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Raymond James reduced their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.71.

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.