Citigroup Inc. raised its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,023 shares of the bank's stock after buying an additional 52,430 shares during the period. Citigroup Inc. owned about 0.15% of Old National Bancorp worth $9,051,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock valued at $26,000 after purchasing an additional 1,005 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Old National Bancorp by 1,766.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after buying an additional 1,325 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Old National Bancorp during the second quarter worth approximately $28,000. LRI Investments LLC bought a new stake in shares of Old National Bancorp in the first quarter worth $48,000. Finally, Quest Partners LLC acquired a new stake in Old National Bancorp in the third quarter valued at $91,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Raymond James raised shares of Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price for the company in a research report on Tuesday. Barclays boosted their price objective on Old National Bancorp from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday. Royal Bank of Canada increased their target price on Old National Bancorp from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.44.
Check Out Our Latest Stock Report on ONB
Old National Bancorp Stock Performance
Shares of Old National Bancorp stock traded up $0.02 during trading on Friday, hitting $23.16. 1,713,504 shares of the stock were exchanged, compared to its average volume of 2,139,558. The stock has a market cap of $7.39 billion, a PE ratio of 14.04 and a beta of 0.82. The stock's fifty day moving average is $19.95 and its 200 day moving average is $18.67. Old National Bancorp has a 12 month low of $14.63 and a 12 month high of $23.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $485.86 million during the quarter, compared to analysts' expectations of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, sell-side analysts anticipate that Old National Bancorp will post 1.84 EPS for the current year.
Old National Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, December 5th. Old National Bancorp's payout ratio is currently 33.94%.
Old National Bancorp Company Profile
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Free Report)
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.
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