MetLife Investment Management LLC boosted its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 363,637 shares of the bank's stock after buying an additional 25,164 shares during the period. MetLife Investment Management LLC owned approximately 0.11% of Old National Bancorp worth $7,893,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in Old National Bancorp by 26.5% in the 3rd quarter. HighTower Advisors LLC now owns 14,187 shares of the bank's stock worth $267,000 after acquiring an additional 2,969 shares in the last quarter. Stifel Financial Corp raised its holdings in Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank's stock worth $1,000,000 after purchasing an additional 648 shares in the last quarter. Barclays PLC lifted its position in Old National Bancorp by 93.6% during the third quarter. Barclays PLC now owns 839,504 shares of the bank's stock valued at $15,665,000 after acquiring an additional 405,956 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Old National Bancorp by 31.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 31,597 shares of the bank's stock valued at $590,000 after purchasing an additional 7,489 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Old National Bancorp by 13.5% in the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank's stock worth $65,275,000 after acquiring an additional 416,647 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.
Old National Bancorp Price Performance
Shares of NASDAQ:ONB traded down $0.09 during trading on Friday, reaching $20.84. 2,535,688 shares of the company's stock traded hands, compared to its average volume of 2,464,212. The firm has a market cap of $6.65 billion, a PE ratio of 12.40 and a beta of 0.82. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a 50-day simple moving average of $20.90 and a 200-day simple moving average of $21.49.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. The business had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. As a group, 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. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's payout ratio is 32.56%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday. StockNews.com raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday. Barclays decreased their target price 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. Citigroup cut their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Stephens reissued an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.63.
View Our Latest Stock Report on ONB
Old National Bancorp Company Profile
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Free Report)
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.
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