Teachers Advisors LLC Has $4.04 Million Position in Old National Bancorp (ONB)
Teachers Advisors LLC increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 1.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 232,980 shares of the bank’s stock after buying an additional 3,966 shares during the period. Teachers Advisors LLC’s holdings in Old National Bancorp were worth $4,042,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in ONB. Meadow Creek Investment Management LLC boosted its position in Old National Bancorp by 26.0% in the first quarter. Meadow Creek Investment Management LLC now owns 5,968 shares of the bank’s stock worth $104,000 after buying an additional 1,232 shares during the period. North Star Investment Management Corp. boosted its position in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock worth $105,000 after buying an additional 1,225 shares during the period. Neuburgh Advisers LLC boosted its position in Old National Bancorp by 26.0% in the first quarter. Neuburgh Advisers LLC now owns 8,206 shares of the bank’s stock worth $142,000 after buying an additional 1,694 shares during the period. Stifel Financial Corp acquired a new position in Old National Bancorp during the first quarter worth approximately $178,000. Finally, Tyers Asset Management LLC boosted its position in Old National Bancorp by 26.0% in the first quarter. Tyers Asset Management LLC now owns 10,444 shares of the bank’s stock worth $181,000 after buying an additional 2,156 shares during the period. 70.99% of the stock is owned by hedge funds and other institutional investors.
Old National Bancorp (NASDAQ:ONB) opened at 16.50 on Wednesday. Old National Bancorp has a one year low of $13.49 and a one year high of $18.95. The firm has a 50-day moving average price of $16.87 and a 200-day moving average price of $17.19. The firm has a market cap of $2.24 billion, a PE ratio of 15.67 and a beta of 1.10.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The business had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. During the same quarter last year, the business posted $0.31 earnings per share. On average, equities analysts expect that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.13 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 3.13%. Old National Bancorp’s dividend payout ratio is currently 49.52%.
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ONB has been the subject of a number of research analyst reports. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Sunday, June 11th. BidaskClub cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Hilliard Lyons raised Old National Bancorp from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $17.00 to $17.50 in a report on Thursday, April 27th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.30.
In other news, insider John R. Kamin sold 7,332 shares of Old National Bancorp stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $17.03, for a total value of $124,863.96. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.79% of the stock is currently owned by insiders.
About Old National Bancorp
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.
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