Tower Research Capital LLC TRC Increases Holdings in Old National Bancorp (NASDAQ:ONB)

Tower Research Capital LLC TRC boosted its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 72.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,842 shares of the bank's stock after purchasing an additional 15,053 shares during the quarter. Tower Research Capital LLC TRC's holdings in Old National Bancorp were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its holdings in shares of Old National Bancorp by 93.6% in 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 in the last quarter. JPMorgan Chase & Co. increased its position in Old National Bancorp by 13.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank's stock valued at $65,275,000 after purchasing an additional 416,647 shares during the period. Versant Capital Management Inc raised its holdings in shares of Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after purchasing an additional 615 shares in the last quarter. Neville Rodie & Shaw Inc. bought a new stake in shares of Old National Bancorp in the 4th quarter valued at about $652,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Old National Bancorp in the 4th quarter worth approximately $209,000. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $20.84 on Friday. The company has a 50 day moving average price of $20.90 and a 200 day moving average price of $21.52. The firm has a market capitalization of $6.65 billion, a P/E ratio of 12.40 and a beta of 0.82. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49.

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, topping the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The business had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. Sell-side analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio is presently 32.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ONB. Raymond James reduced their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup reduced their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday. Barclays dropped their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Finally, Royal Bank of Canada lowered their price target 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. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Old National Bancorp has a consensus rating of "Moderate Buy" and an average price target of $25.63.

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.

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