Channing Capital Management LLC Raises Stake in Old National Bancorp (NASDAQ:ONB)

Channing Capital Management LLC grew its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,618,462 shares of the bank's stock after purchasing an additional 509,028 shares during the period. Old National Bancorp makes up about 2.7% of Channing Capital Management LLC's holdings, making the stock its 3rd biggest position. Channing Capital Management LLC owned about 1.45% of Old National Bancorp worth $100,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in shares of Old National Bancorp by 147.3% in the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank's stock valued at $134,820,000 after purchasing an additional 4,303,071 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 worth $35,921,000 after buying an additional 1,695,383 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Old National Bancorp by 28.7% in the 4th quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank's stock valued at $88,998,000 after acquiring an additional 914,217 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Old National Bancorp during the fourth quarter valued at approximately $19,708,000. Finally, Geode Capital Management LLC lifted its holdings 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 during the last quarter. 83.66% of the stock is owned by institutional investors.

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Old National Bancorp Trading Up 3.8 %

Shares of ONB stock traded up $0.76 during trading hours on Friday, reaching $20.96. The company's stock had a trading volume of 2,908,592 shares, compared to its average volume of 3,084,675. 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 one year low of $15.38 and a one year high of $24.49. The stock has a market capitalization of $6.69 billion, a P/E ratio of 12.48 and a beta of 0.85. The firm's fifty day simple moving average is $22.85 and its 200 day simple moving average is $21.22.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating 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. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, March 5th. Old National Bancorp's dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

ONB has been the subject of a number of recent research reports. Stephens restated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James restated a "strong-buy" rating and set a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. StockNews.com downgraded Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, December 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Barclays lifted their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.29.

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.