Old National Bancorp $ONB Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in Old National Bancorp (NASDAQ:ONB) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 3,916,066 shares of the bank’s stock after acquiring an additional 30,104 shares during the quarter. Fisher Asset Management LLC’s holdings in Old National Bancorp were worth $87,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. MAI Capital Management boosted its position in Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after acquiring an additional 704 shares during the period. Covestor Ltd increased its holdings in shares of Old National Bancorp by 157.0% during the third quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after purchasing an additional 755 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Old National Bancorp during the fourth quarter valued at $28,000. Rothschild Investment LLC raised its stake in shares of Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Stephens boosted their price target on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Citigroup upped their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods raised their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Barclays boosted their target price on Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.91.

Old National Bancorp Price Performance

NASDAQ ONB opened at $23.94 on Tuesday. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $26.17. The company has a market capitalization of $9.25 billion, a P/E ratio of 12.34 and a beta of 0.85. The company’s 50 day simple moving average is $23.04 and its 200 day simple moving average is $23.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. Equities research analysts expect that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.