Geode Capital Management LLC Has $178.11 Million Position in Old National Bancorp (NASDAQ:ONB)

Geode Capital Management LLC trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,204,265 shares of the bank's stock after selling 127,704 shares during the period. Geode Capital Management LLC owned approximately 2.57% of Old National Bancorp worth $178,110,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ONB. Lee Danner & Bass Inc. bought a new position in shares of Old National Bancorp during the fourth quarter valued at $25,000. Empowered Funds LLC bought a new position in Old National Bancorp during the 4th quarter valued at about $28,000. Versant Capital Management Inc boosted its position in 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. grew its stake in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in shares of Old National Bancorp in the fourth quarter valued at approximately $65,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Old National Bancorp Trading Up 2.0 %

Shares of NASDAQ:ONB traded up $0.37 during trading on Friday, hitting $18.68. 3,269,974 shares of the company's stock were exchanged, compared to its average volume of 2,400,859. The firm has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $21.40. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The firm has a market cap of $5.96 billion, a P/E ratio of 11.12 and a beta of 0.82. 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 released its earnings results on Tuesday, January 21st. The bank reported $0.49 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 quarter last year, the firm posted $0.46 earnings per share. Equities analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.00%. Old National Bancorp's dividend payout ratio is presently 33.33%.

Old National Bancorp Company 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.