Old National Bancorp (NASDAQ:ONB) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 480,971 shares of the bank's stock after selling 27,830 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Old National Bancorp worth $10,439,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in Old National Bancorp in the fourth quarter valued at approximately $25,000. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at $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 valued at $36,000 after buying an additional 615 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after buying an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new position in Old National Bancorp during the 4th quarter worth about $65,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Stephens restated an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. Raymond James reduced their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays decreased their price target on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old National Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $25.71.

Old National Bancorp Stock Up 2.0 %

NASDAQ ONB traded up $0.37 on Friday, hitting $18.68. 3,269,974 shares of the stock were exchanged, compared to its average volume of 2,400,858. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The company has a 50-day moving average price of $21.74 and a 200-day moving average price of $21.40. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a market cap of $5.96 billion, a PE ratio of 11.12 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $0.46 earnings per share. Sell-side analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 3.00%. Old National Bancorp's dividend payout ratio 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.