State of Tennessee Treasury Department grew its stake in Old National Bancorp (NASDAQ:ONB) by 24.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,594 shares of the bank’s stock after purchasing an additional 22,739 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.07% of Old National Bancorp worth $2,006,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Old National Bancorp by 3.9% during the second quarter. BlackRock Inc. now owns 23,241,359 shares of the bank’s stock valued at $385,576,000 after acquiring an additional 862,874 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Old National Bancorp during the second quarter valued at approximately $11,641,000. Morgan Stanley increased its position in shares of Old National Bancorp by 483.1% during the second quarter. Morgan Stanley now owns 749,415 shares of the bank’s stock valued at $12,432,000 after acquiring an additional 620,888 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Old National Bancorp during the third quarter valued at approximately $4,869,000. Finally, Vanguard Group Inc. increased its position in shares of Old National Bancorp by 1.3% during the second quarter. Vanguard Group Inc. now owns 17,905,725 shares of the bank’s stock valued at $297,056,000 after acquiring an additional 235,124 shares during the last quarter. Institutional investors own 64.67% of the company’s stock.

A number of analysts recently commented on ONB shares. Stephens downgraded Old National Bancorp from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a research report on Tuesday, October 8th. BidaskClub raised Old National Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Zacks Investment Research downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. ValuEngine raised Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Boenning Scattergood downgraded Old National Bancorp from an “outperform” rating to a “neutral” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Old National Bancorp has an average rating of “Hold” and an average target price of $19.50.

NASDAQ:ONB opened at $18.46 on Friday. The company has a market capitalization of $3.13 billion, a P/E ratio of 14.31 and a beta of 0.98. The business has a fifty day simple moving average of $17.53 and a two-hundred day simple moving average of $17.01. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.82 and a quick ratio of 0.82. Old National Bancorp has a 1 year low of $14.45 and a 1 year high of $19.01.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The firm had revenue of $209.80 million for the quarter, compared to the consensus estimate of $201.79 million. Old National Bancorp had a return on equity of 8.89% and a net margin of 25.19%. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. As a group, analysts anticipate that Old National Bancorp will post 1.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.52 annualized dividend and a dividend yield of 2.82%. Old National Bancorp’s dividend payout ratio is currently 40.31%.

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, interest-bearing checking, 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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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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