Principal Financial Group Inc. Has $17.74 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Principal Financial Group Inc. reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 25.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 950,880 shares of the bank’s stock after selling 321,990 shares during the period. Principal Financial Group Inc.’s holdings in Old National Bancorp were worth $17,743,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in shares of Old National Bancorp by 18.4% during the first quarter. Janney Montgomery Scott LLC now owns 15,240 shares of the bank’s stock worth $265,000 after buying an additional 2,366 shares during the period. Russell Investments Group Ltd. boosted its holdings in Old National Bancorp by 4.7% during the first quarter. Russell Investments Group Ltd. now owns 236,491 shares of the bank’s stock worth $4,117,000 after purchasing an additional 10,673 shares during the last quarter. ProShare Advisors LLC grew its position in Old National Bancorp by 4.7% in the first quarter. ProShare Advisors LLC now owns 66,963 shares of the bank’s stock valued at $1,166,000 after purchasing an additional 3,027 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Old National Bancorp by 35.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock valued at $1,969,000 after buying an additional 29,400 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in Old National Bancorp by 1.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 95,145 shares of the bank’s stock worth $1,656,000 after buying an additional 919 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

ONB has been the subject of several analyst reports. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Barclays boosted their price target on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada increased their price objective on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.43.

Old National Bancorp Stock Down 1.8 %

Old National Bancorp stock opened at $21.80 on Friday. The company’s 50-day moving average price is $19.23 and its two-hundred day moving average price is $18.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The stock has a market cap of $6.95 billion, a P/E ratio of 13.21 and a beta of 0.82. Old National Bancorp has a twelve month low of $14.32 and a twelve month high of $22.75.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is 33.94%.

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.