Old National Bancorp (ONB) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System increased its position in shares of Old National Bancorp (NASDAQ:ONB) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,395 shares of the bank’s stock after acquiring an additional 9,795 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Old National Bancorp worth $5,918,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in ONB. Valeo Financial Advisors LLC acquired a new position in Old National Bancorp during the third quarter worth about $129,000. Advisor Group Inc. grew its holdings in Old National Bancorp by 219.1% during the third quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after acquiring an additional 6,812 shares during the period. Stifel Financial Corp acquired a new position in Old National Bancorp during the third quarter worth about $196,000. Adviser Investments LLC acquired a new position in Old National Bancorp during the third quarter worth about $212,000. Finally, 361 Capital LLC acquired a new position in Old National Bancorp during the third quarter worth about $213,000. 72.99% of the stock is currently owned by hedge funds and other institutional investors.
Old National Bancorp (NASDAQ:ONB) opened at $17.60 on Friday. The firm has a market capitalization of $2,380.00, a PE ratio of 16.15 and a beta of 1.03. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $18.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.85.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a return on equity of 8.39% and a net margin of 21.61%. The firm had revenue of $154.84 million for the quarter, compared to analysts’ expectations of $152.48 million. During the same quarter last year, the business posted $0.25 EPS. analysts expect that Old National Bancorp will post 1.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.52 annualized dividend and a yield of 2.95%. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.71%.
A number of equities analysts recently weighed in on the company. BidaskClub cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $20.00 price target on shares of Old National Bancorp in a research note on Friday, December 22nd. ValuEngine raised Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Boenning Scattergood set a $21.00 price target on Old National Bancorp and gave the stock a “buy” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.19.
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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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