Dimensional Fund Advisors LP Has $395.19 Million Stock Holdings in Old National Bancorp $ONB

Dimensional Fund Advisors LP grew its position in shares of Old National Bancorp (NASDAQ:ONB) by 1.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 17,882,650 shares of the bank’s stock after buying an additional 310,352 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Old National Bancorp were worth $395,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Old National Bancorp Stock Down 1.3%

ONB stock opened at $26.17 on Wednesday. The stock has a market capitalization of $10.11 billion, a P/E ratio of 13.49 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.32. The firm has a 50-day moving average price of $24.96 and a 200-day moving average price of $23.96.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating 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 net margin of 18.90% and a return on equity of 11.23%. The company’s quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. As a group, equities research analysts anticipate that Old National Bancorp will post 2.57 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ONB. Barclays lifted their price target on shares of 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 raised their price objective on Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Stephens upped their target price on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Raymond James Financial initiated coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “market perform” rating on the stock. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and an average target price of $28.55.

Old National Bancorp Profile

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.