JPMorgan Chase & Co. Grows Position in Old National Bancorp (NASDAQ:ONB)

JPMorgan Chase & Co. grew its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,927,078 shares of the bank's stock after purchasing an additional 428,970 shares during the quarter. JPMorgan Chase & Co. owned about 1.23% of Old National Bancorp worth $85,237,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. William Blair Investment Management LLC raised its stake in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock worth $119,236,000 after purchasing an additional 3,474,578 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Old National Bancorp by 121,882.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank's stock valued at $35,921,000 after purchasing an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC lifted its position in Old National Bancorp by 28.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank's stock worth $88,998,000 after purchasing an additional 914,217 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $19,708,000. Finally, Geode Capital Management LLC boosted its position in shares of Old National Bancorp by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank's stock worth $155,502,000 after acquiring an additional 514,315 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ONB shares. Royal Bank of Canada restated a "sector perform" rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens reissued an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Raymond James cut their price objective on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays decreased their price objective 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 assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $25.71.

Old National Bancorp Stock Down 1.0 %

Shares of ONB traded down $0.19 during trading hours on Tuesday, hitting $17.95. The company had a trading volume of 3,590,961 shares, compared to its average volume of 2,367,825. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49. The firm has a fifty day moving average price of $22.11 and a 200-day moving average price of $21.41. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 10.68 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results 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 period in the previous year, the company earned $0.46 EPS. On average, equities research analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.12%. Old National Bancorp's dividend payout ratio (DPR) is presently 33.33%.

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.