Macquarie Group Ltd. Acquires 200,000 Shares of Old National Bancorp (ONB)
Macquarie Group Ltd. grew its holdings in Old National Bancorp (NASDAQ:ONB) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,272,738 shares of the bank’s stock after purchasing an additional 200,000 shares during the quarter. Macquarie Group Ltd. owned approximately 1.49% of Old National Bancorp worth $42,273,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ONB. Wells Fargo & Company MN boosted its position in Old National Bancorp by 7.4% during the 1st quarter. Wells Fargo & Company MN now owns 429,987 shares of the bank’s stock valued at $7,267,000 after acquiring an additional 29,757 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Old National Bancorp by 9.1% in the 1st quarter. SG Americas Securities LLC now owns 67,675 shares of the bank’s stock worth $1,144,000 after purchasing an additional 5,650 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Old National Bancorp by 2.1% in the 1st quarter. Prudential Financial Inc. now owns 834,836 shares of the bank’s stock worth $14,109,000 after purchasing an additional 17,050 shares in the last quarter. Swiss National Bank boosted its position in shares of Old National Bancorp by 2.3% in the 1st quarter. Swiss National Bank now owns 235,984 shares of the bank’s stock worth $3,988,000 after purchasing an additional 5,200 shares in the last quarter. Finally, Eaton Vance Management boosted its position in shares of Old National Bancorp by 42.3% in the 1st quarter. Eaton Vance Management now owns 267,828 shares of the bank’s stock worth $4,526,000 after purchasing an additional 79,650 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on ONB. BidaskClub cut Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine raised Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research cut Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.09.
Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Monday, July 23rd. The bank reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The company had revenue of $184.10 million during the quarter, compared to analyst estimates of $174.05 million. Old National Bancorp had a return on equity of 8.08% and a net margin of 15.19%. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. analysts forecast that Old National Bancorp will post 1.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th will be paid a $0.13 dividend. The ex-dividend date is Friday, August 31st. This represents a $0.52 dividend on an annualized basis and a yield of 2.54%. Old National Bancorp’s dividend payout ratio (DPR) is 47.27%.
Old National Bancorp Profile
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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