Kennedy Capital Management LLC Trims Stake in Old National Bancorp (NASDAQ:ONB)

Kennedy Capital Management LLC lessened its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,699 shares of the bank's stock after selling 100,125 shares during the quarter. Kennedy Capital Management LLC owned 0.13% of Old National Bancorp worth $9,240,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ONB. Wellington Management Group LLP boosted its position in shares of Old National Bancorp by 923.4% in the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock worth $189,374,000 after buying an additional 7,872,318 shares during the period. Norges Bank acquired a new position in Old National Bancorp during the 4th quarter valued at about $76,684,000. William Blair Investment Management LLC raised its position in Old National Bancorp by 172.1% in the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock worth $119,236,000 after acquiring an additional 3,474,578 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Old National Bancorp during the fourth quarter worth $42,316,000. Finally, Allspring Global Investments Holdings LLC grew its position in Old National Bancorp by 121,882.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank's stock worth $35,921,000 after purchasing an additional 1,695,383 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Trading Down 0.3 %

Shares of ONB traded down $0.06 during mid-day trading on Wednesday, reaching $19.42. The company's stock had a trading volume of 983,291 shares, compared to its average volume of 2,404,198. The company's fifty day moving average price is $21.54 and its two-hundred day moving average price is $21.41. 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 has a 52 week low of $15.38 and a 52 week high of $24.49. The stock has a market cap of $6.19 billion, a PE ratio of 11.56 and a beta of 0.82.

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 firm earned $0.46 earnings per share. On average, analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stephens reissued an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday. Royal Bank of Canada restated a "sector perform" rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James cut their price objective 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 lowered 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, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.71.

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.