Nuveen Asset Management LLC purchased a new position in shares of Old National Bancorp (NASDAQ:ONB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 701,650 shares of the bank’s stock, valued at approximately $11,641,000. Nuveen Asset Management LLC owned 0.41% of Old National Bancorp as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Stephens Inc. AR raised its position in shares of Old National Bancorp by 6.9% in the 2nd quarter. Stephens Inc. AR now owns 10,832 shares of the bank’s stock worth $180,000 after buying an additional 697 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Old National Bancorp by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 64,646 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 852 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Old National Bancorp by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 59,328 shares of the bank’s stock valued at $984,000 after purchasing an additional 1,000 shares in the last quarter. United Capital Financial Advisers LLC increased its holdings in Old National Bancorp by 1.9% in the 2nd quarter. United Capital Financial Advisers LLC now owns 54,880 shares of the bank’s stock valued at $910,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CWM Advisors LLC increased its holdings in Old National Bancorp by 8.5% in the 2nd quarter. CWM Advisors LLC now owns 13,028 shares of the bank’s stock valued at $216,000 after purchasing an additional 1,016 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.
Shares of Old National Bancorp stock opened at $16.83 on Friday. The business has a 50-day moving average of $17.12 and a 200-day moving average of $16.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $2.86 billion, a PE ratio of 12.21 and a beta of 1.00. Old National Bancorp has a 1-year low of $14.45 and a 1-year high of $19.45.
Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Monday, July 22nd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The company had revenue of $208.50 million during the quarter, compared to the consensus estimate of $200.05 million. Old National Bancorp had a return on equity of 8.72% and a net margin of 24.22%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts expect that Old National Bancorp will post 1.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 3.09%. Old National Bancorp’s dividend payout ratio is presently 40.31%.
ONB has been the subject of several recent research reports. Zacks Investment Research downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Stephens downgraded Old National Bancorp from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a report on Tuesday. Finally, BidaskClub downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Old National Bancorp Company Profile
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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