Old National Bancorp (ONB) Shares Bought by Swiss National Bank
Swiss National Bank boosted its stake in Old National Bancorp (NASDAQ:ONB) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,184 shares of the bank’s stock after buying an additional 14,100 shares during the period. Swiss National Bank owned approximately 0.17% of Old National Bancorp worth $3,884,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in Old National Bancorp by 52,609.0% during the first quarter. BlackRock Inc. now owns 16,743,528 shares of the bank’s stock worth $290,500,000 after purchasing an additional 16,711,762 shares during the period. Bank of New York Mellon Corp increased its stake in Old National Bancorp by 51.7% during the first quarter. Bank of New York Mellon Corp now owns 3,030,358 shares of the bank’s stock worth $52,576,000 after purchasing an additional 1,032,164 shares during the period. Vanguard Group Inc. increased its stake in Old National Bancorp by 4.9% during the first quarter. Vanguard Group Inc. now owns 12,455,653 shares of the bank’s stock worth $216,106,000 after purchasing an additional 586,666 shares during the period. Dimensional Fund Advisors LP increased its stake in Old National Bancorp by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 10,750,699 shares of the bank’s stock worth $186,525,000 after purchasing an additional 429,008 shares during the period. Finally, State Street Corp increased its stake in Old National Bancorp by 8.5% during the first quarter. State Street Corp now owns 5,490,742 shares of the bank’s stock worth $95,272,000 after purchasing an additional 428,365 shares during the period. Hedge funds and other institutional investors own 72.62% of the company’s stock.
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In other news, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.79% of the company’s stock.
A number of analysts have issued reports on the stock. BidaskClub lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods reiterated a “hold – neutral” rating on shares of Old National Bancorp in a research note on Monday, June 12th. UBS AG upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 19th. Raymond James Financial, Inc. upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Tuesday, September 19th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Old National Bancorp presently has a consensus rating of “Hold” and a consensus price target of $18.42.
Shares of Old National Bancorp (ONB) opened at 17.45 on Monday. The firm’s 50-day moving average is $16.37 and its 200-day moving average is $16.79. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 16.57 and a beta of 1.08. Old National Bancorp has a 52 week low of $13.53 and a 52 week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $153.60 million for the quarter, compared to the consensus estimate of $153.57 million. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. During the same period last year, the business posted $0.31 EPS. On average, equities research analysts anticipate that Old National Bancorp will post $1.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.98%. Old National Bancorp’s dividend payout ratio (DPR) is 49.52%.
Old National Bancorp 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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