Rhumbline Advisers Purchases 16,878 Shares of Old National Bancorp (NASDAQ:ONB)

Rhumbline Advisers raised its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,123,805 shares of the bank's stock after acquiring an additional 16,878 shares during the quarter. Rhumbline Advisers owned 0.35% of Old National Bancorp worth $24,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in Old National Bancorp by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank's stock valued at $59,453,000 after buying an additional 90,747 shares in the last quarter. Citigroup Inc. lifted its stake in Old National Bancorp by 12.1% during the third quarter. Citigroup Inc. now owns 485,023 shares of the bank's stock valued at $9,051,000 after buying an additional 52,430 shares in the last quarter. LMR Partners LLP purchased a new stake in Old National Bancorp during the third quarter valued at about $452,000. JPMorgan Chase & Co. lifted its stake in Old National Bancorp by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank's stock valued at $65,275,000 after buying an additional 416,647 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Old National Bancorp during the fourth quarter valued at about $209,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Stephens reiterated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their target price on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Finally, Raymond James restated a "strong-buy" rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Old National Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.29.

Old National Bancorp Stock Performance

Shares of ONB traded down $0.48 during mid-day trading on Friday, hitting $23.49. The company's stock had a trading volume of 1,380,134 shares, compared to its average volume of 3,246,685. Old National Bancorp has a one year low of $15.38 and a one year high of $24.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $7.49 billion, a PE ratio of 13.99 and a beta of 0.88. The stock's 50-day moving average is $22.71 and its two-hundred day moving average is $20.81.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.32% and a net margin of 18.24%. During the same period in the previous year, the business earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.38%. Old National Bancorp's dividend payout ratio (DPR) is currently 33.33%.

Old National Bancorp Company 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.