Vanguard Personalized Indexing Management LLC Has $743,000 Position in Old National Bancorp (NASDAQ:ONB)

Vanguard Personalized Indexing Management LLC grew its position in Old National Bancorp (NASDAQ:ONB) by 179.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,020 shares of the bank’s stock after purchasing an additional 28,288 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Old National Bancorp were worth $743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its stake in Old National Bancorp by 57.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock worth $38,000 after purchasing an additional 949 shares in the last quarter. Legacy Wealth Asset Management LLC bought a new stake in Old National Bancorp during the fourth quarter worth $181,000. Trust Point Inc. acquired a new stake in Old National Bancorp in the 4th quarter valued at about $189,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $192,000. Finally, PNC Financial Services Group Inc. raised its stake in Old National Bancorp by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock valued at $227,000 after acquiring an additional 876 shares during the period. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brendon B. Falconer sold 49,375 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $16.28, for a total value of $803,825.00. Following the completion of the sale, the chief financial officer now owns 88,712 shares of the company’s stock, valued at $1,444,231.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.07% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $17.08 on Thursday. The stock’s 50-day moving average is $16.74 and its 200-day moving average is $16.34. The stock has a market cap of $5.45 billion, a P/E ratio of 9.23 and a beta of 0.83. Old National Bancorp has a 1-year low of $12.21 and a 1-year high of $17.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $440.20 million for the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Equities research analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, June 5th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, June 5th. Old National Bancorp’s dividend payout ratio is currently 30.27%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ONB. Barclays upped their target price on Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. UBS Group cut their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Finally, StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.86.

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.