First Trust Advisors LP Boosts Stock Position in Old National Bancorp (NASDAQ:ONB)

First Trust Advisors LP raised its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 86.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,272,954 shares of the bank's stock after buying an additional 1,051,313 shares during the period. First Trust Advisors LP owned about 0.71% of Old National Bancorp worth $49,334,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ONB. CANADA LIFE ASSURANCE Co increased its position in Old National Bancorp by 2.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 307,487 shares of the bank's stock worth $6,670,000 after buying an additional 7,719 shares during the period. Keeley Teton Advisors LLC lifted its holdings in shares of Old National Bancorp by 15.0% in the 4th quarter. Keeley Teton Advisors LLC now owns 162,787 shares of the bank's stock valued at $3,533,000 after buying an additional 21,217 shares during the period. Jump Financial LLC purchased a new stake in shares of Old National Bancorp during the 4th quarter worth $955,000. XTX Topco Ltd acquired a new position in Old National Bancorp during the fourth quarter worth about $1,001,000. Finally, Mariner LLC increased its stake in Old National Bancorp by 0.9% in the 4th quarter. Mariner LLC now owns 57,744 shares of the bank's stock valued at $1,253,000 after purchasing an additional 509 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stephens restated an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Monday, April 14th. Royal Bank of Canada reduced their price objective on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday. StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday. Barclays reduced their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Raymond James cut their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.63.

Old National Bancorp Stock Performance

Shares of ONB traded down $0.09 during trading hours on Friday, reaching $20.84. 2,535,688 shares of the company traded hands, compared to its average volume of 2,468,784. Old National Bancorp has a 1-year low of $15.60 and a 1-year 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. The stock has a market cap of $6.65 billion, a P/E ratio of 12.40 and a beta of 0.82. The stock's fifty day moving average is $20.90 and its 200 day moving average is $21.52.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The company had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Equities research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 2.69%. Old National Bancorp's dividend payout ratio is 32.56%.

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.