Principal Financial Group Inc. increased its position in Old National Bancorp (NASDAQ:ONB) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,053,400 shares of the bank’s stock after purchasing an additional 3,617 shares during the quarter. Principal Financial Group Inc. owned approximately 0.78% of Old National Bancorp worth $18,171,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ONB. Wells Fargo & Company MN raised its holdings in shares of Old National Bancorp by 2.4% in the 1st quarter. Wells Fargo & Company MN now owns 200,753 shares of the bank’s stock valued at $3,482,000 after purchasing an additional 4,640 shares during the period. Great West Life Assurance Co. Can raised its holdings in Old National Bancorp by 6.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 189,945 shares of the bank’s stock valued at $3,285,000 after acquiring an additional 11,412 shares during the period. US Bancorp DE raised its holdings in Old National Bancorp by 58.9% in the 1st quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after acquiring an additional 3,970 shares during the period. Bank of New York Mellon Corp raised its holdings in Old National Bancorp by 51.7% in the 1st quarter. Bank of New York Mellon Corp now owns 3,030,358 shares of the bank’s stock valued at $52,576,000 after acquiring an additional 1,032,164 shares during the period. Finally, Suntrust Banks Inc. raised its holdings in Old National Bancorp by 0.5% in the 1st quarter. Suntrust Banks Inc. now owns 21,217 shares of the bank’s stock valued at $368,000 after acquiring an additional 114 shares during the period. 72.90% of the stock is currently owned by institutional investors.

Old National Bancorp (ONB) opened at 16.40 on Friday. The firm has a 50-day moving average of $16.34 and a 200 day moving average of $16.84. The company has a market capitalization of $2.22 billion, a PE ratio of 15.57 and a beta of 1.08. Old National Bancorp has a 12-month low of $13.53 and a 12-month high of $18.95.

Old National Bancorp (NASDAQ:ONB) last released its 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. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. During the same period in the previous year, the company earned $0.31 earnings per share. Analysts forecast that Old National Bancorp will post $1.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Wednesday, August 30th. Old National Bancorp’s payout ratio is 49.52%.

Several research firms have weighed in on ONB. Zacks Investment Research cut shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. BidaskClub raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Jefferies Group LLC reissued a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Sunday, June 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reissued a “hold – neutral” rating on shares of Old National Bancorp in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Old National Bancorp currently has an average rating of “Hold” and a consensus price target of $18.30.

In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John R. Kamin sold 7,332 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $17.03, for a total transaction of $124,863.96. The disclosure for this sale can be found here. 1.79% of the stock is owned by insiders.

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Old National Bancorp Company Profile

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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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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