Accredited Investors Inc. Makes New $5.48 Million Investment in Old National Bancorp (NASDAQ:ONB)

Accredited Investors Inc. acquired a new position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 293,406 shares of the bank's stock, valued at approximately $5,475,000. Accredited Investors Inc. owned 0.09% of Old National Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in Old National Bancorp by 188.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank's stock valued at $885,000 after buying an additional 33,615 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Old National Bancorp by 35.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank's stock worth $1,969,000 after purchasing an additional 29,400 shares in the last quarter. Busey Bank boosted its holdings in Old National Bancorp by 41.6% during the second quarter. Busey Bank now owns 38,519 shares of the bank's stock worth $662,000 after buying an additional 11,316 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Old National Bancorp by 7.0% in the first quarter. Bessemer Group Inc. now owns 725,296 shares of the bank's stock valued at $12,626,000 after buying an additional 47,350 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Old National Bancorp by 11.9% during the 1st quarter. Comerica Bank now owns 299,561 shares of the bank's stock valued at $5,215,000 after acquiring an additional 31,937 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Down 2.6 %

Shares of ONB stock traded down $0.57 on Friday, reaching $21.23. The company had a trading volume of 4,157,191 shares, compared to its average volume of 2,643,942. The company has a 50-day moving average of $19.28 and a 200-day moving average of $18.33. Old National Bancorp has a 12 month low of $14.32 and a 12 month high of $22.75. The stock has a market cap of $6.77 billion, a PE ratio of 12.87 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm's revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts forecast that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, December 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 33.94%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ONB shares. StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Barclays upped their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada lifted their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.43.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.