Wellington Management Group LLP Boosts Stock Position in Old National Bancorp (NASDAQ:ONB)

Wellington Management Group LLP raised its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 923.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,724,893 shares of the bank's stock after purchasing an additional 7,872,318 shares during the period. Wellington Management Group LLP owned 2.74% of Old National Bancorp worth $189,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ONB. Vanguard Group Inc. lifted its holdings in Old National Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock valued at $736,261,000 after purchasing an additional 290,005 shares in the last quarter. State Street Corp raised its position in shares of Old National Bancorp by 0.3% in the third quarter. State Street Corp now owns 14,787,843 shares of the bank's stock valued at $275,941,000 after buying an additional 42,723 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Old National Bancorp by 6.6% in the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank's stock worth $155,502,000 after buying an additional 514,315 shares in the last quarter. Victory Capital Management Inc. boosted its position in Old National Bancorp by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank's stock worth $163,899,000 after acquiring an additional 326,135 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in Old National Bancorp by 172.1% during the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock valued at $119,236,000 after acquiring an additional 3,474,578 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stephens reissued an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James cut their price target on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Barclays boosted their price objective 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.00.

Old National Bancorp Trading Up 0.9 %

NASDAQ:ONB traded up $0.17 on Monday, reaching $18.14. The company's stock had a trading volume of 3,624,886 shares, compared to its average volume of 2,359,144. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49. The stock has a 50 day moving average price of $22.34 and a 200 day moving average price of $21.44. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 10.80 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 (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating analysts' consensus estimates 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. On average, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.09%. Old National Bancorp's payout ratio is currently 33.33%.

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.