24,225 Shares in Old National Bancorp (NASDAQ:ONB) Acquired by LMR Partners LLP

LMR Partners LLP purchased a new stake in Old National Bancorp (NASDAQ:ONB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,225 shares of the bank's stock, valued at approximately $452,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ONB. CWM LLC grew its holdings in shares of Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after buying an additional 591 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Old National Bancorp by 3.9% in the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank's stock valued at $346,000 after buying an additional 748 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 acquiring an additional 1,005 shares during the last quarter. Studio Investment Management LLC boosted its holdings in Old National Bancorp by 5.7% in the second quarter. Studio Investment Management LLC now owns 20,279 shares of the bank's stock worth $349,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Securian Asset Management Inc. raised its stake in shares of Old National Bancorp by 4.6% in the 2nd quarter. Securian Asset Management Inc. now owns 25,186 shares of the bank's stock valued at $433,000 after acquiring an additional 1,119 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ONB shares. StockNews.com cut shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 24th. Finally, Barclays upped their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.43.

Old National Bancorp Price Performance

NASDAQ ONB traded down $0.04 on Wednesday, reaching $20.93. The company's stock had a trading volume of 1,565,391 shares, compared to its average volume of 2,068,972. The firm has a market cap of $6.68 billion, a PE ratio of 12.71 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 52 week low of $14.32 and a 52 week high of $22.75. The business has a 50-day moving average price of $19.38 and a 200 day moving average price of $18.40.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The company had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. During the same quarter in the previous year, the company earned $0.51 EPS. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, December 5th. Old National Bancorp's dividend payout ratio is currently 33.94%.

Old National Bancorp 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.