Bank of New York Mellon Corp Grows Position in Old National Bancorp (NASDAQ:ONB)

Bank of New York Mellon Corp grew its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,394,365 shares of the bank's stock after purchasing an additional 352,116 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of Old National Bancorp worth $73,675,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ONB. International Assets Investment Management LLC grew its holdings in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Old National Bancorp during the fourth quarter worth about $28,000. Versant Capital Management Inc grew its stake in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in Old National Bancorp during the 4th quarter valued at about $65,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ONB. Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 26th. Barclays boosted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. StockNews.com cut shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Finally, Raymond James reiterated 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.29.

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Old National Bancorp Stock Down 0.5 %

Old National Bancorp stock traded down $0.10 during mid-day trading on Friday, hitting $21.54. The company had a trading volume of 1,183,243 shares, compared to its average volume of 3,035,596. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a market capitalization of $6.87 billion, a PE ratio of 12.82 and a beta of 0.85. The stock's 50 day moving average price is $22.94 and its two-hundred day moving average price is $21.15. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping 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 business posted $0.46 EPS. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is currently 33.33%.

Old National Bancorp Profile

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.