Brandywine Global Investment Management LLC reduced its position in Old National Bancorp (NASDAQ:ONB) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 363,107 shares of the bank’s stock after selling 9,240 shares during the period. Brandywine Global Investment Management LLC owned 0.24% of Old National Bancorp worth $6,337,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of ONB. Meeder Asset Management Inc. raised its stake in Old National Bancorp by 5,903.3% during the 4th quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock valued at $128,000 after acquiring an additional 7,202 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Old National Bancorp during the 3rd quarter valued at approximately $129,000. Advisor Group Inc. raised its stake in Old National Bancorp by 219.1% during the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after acquiring an additional 6,812 shares during the last quarter. Stifel Financial Corp purchased a new stake in Old National Bancorp during the 3rd quarter valued at approximately $196,000. Finally, Field & Main Bank purchased a new stake in Old National Bancorp during the 4th quarter valued at approximately $206,000. 65.41% of the stock is owned by institutional investors and hedge funds.
Old National Bancorp (ONB) opened at $17.85 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.85 and a current ratio of 0.85. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $18.88. The stock has a market capitalization of $2,714.29, a P/E ratio of 25.14 and a beta of 0.87.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). Old National Bancorp had a return on equity of 7.80% and a net margin of 14.10%. The business had revenue of $163.40 million for the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. sell-side analysts forecast that Old National Bancorp will post 1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.91%. The ex-dividend date was Wednesday, February 28th. Old National Bancorp’s payout ratio is 73.24%.
Several research firms have commented on ONB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, February 27th. Zacks Investment Research downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, February 11th. Hilliard Lyons raised Old National Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Friday, February 9th. Finally, Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the company a “buy” rating in a research note on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.38.
Old National Bancorp Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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