Old National Bancorp (NASDAQ:ONB) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 10.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,479,049 shares of the bank's stock after selling 1,398,492 shares during the period. American Century Companies Inc. owned approximately 3.91% of Old National Bancorp worth $270,858,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its position in shares of Old National Bancorp by 172.1% in the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock valued at $119,236,000 after buying an additional 3,474,578 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Old National Bancorp by 121,882.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank's stock worth $35,921,000 after buying an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC grew its stake in Old National Bancorp by 28.7% in the 4th quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank's stock worth $88,998,000 after acquiring an additional 914,217 shares during the period. Raymond James Financial Inc. acquired a new position in Old National Bancorp in the fourth quarter valued at $19,708,000. Finally, Geode Capital Management LLC grew its holdings in Old National Bancorp by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank's stock valued at $155,502,000 after buying an additional 514,315 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Up 0.6 %

Shares of ONB stock traded up $0.13 on Wednesday, hitting $21.60. The stock had a trading volume of 1,778,805 shares, compared to its average volume of 2,316,601. The stock's 50 day moving average is $22.82 and its 200-day moving average is $21.35. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 12.86 and a beta of 0.85. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, research analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is currently 33.33%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONB. Stephens reissued an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James reissued a "strong-buy" rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays increased their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Finally, StockNews.com cut shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.29.

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.