Old National Bancorp $ONB Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in shares of Old National Bancorp (NASDAQ:ONB) by 4.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,421,606 shares of the bank’s stock after purchasing an additional 57,092 shares during the period. Bessemer Group Inc.’s holdings in Old National Bancorp were worth $31,417,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Old National Bancorp in the 4th quarter valued at about $27,000. Flagship Harbor Advisors LLC acquired a new position in Old National Bancorp in the 4th quarter worth about $28,000. JFS Wealth Advisors LLC boosted its position in Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock worth $36,000 after purchasing an additional 1,428 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Old National Bancorp during the fourth quarter worth approximately $36,000. Finally, Peterson Wealth Services grew its holdings in Old National Bancorp by 9,711.8% in the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,651 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ONB. Barclays boosted their price objective on Old National Bancorp from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Jefferies Financial Group boosted their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. UBS Group initiated coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Raymond James Financial began coverage on shares of Old National Bancorp in a research report on Tuesday, July 7th. They issued a “market perform” rating on the stock. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $28.55.

Old National Bancorp Price Performance

Shares of Old National Bancorp stock opened at $26.75 on Friday. The stock has a market capitalization of $10.34 billion, a P/E ratio of 13.79 and a beta of 0.83. The business has a 50 day simple moving average of $24.87 and a two-hundred day simple moving average of $23.90. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.32. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The business’s revenue was up 44.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, analysts predict that Old National Bancorp will post 2.57 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, June 5th. Old National Bancorp’s payout ratio is 29.90%.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.