SageView Advisory Group LLC Takes $301,000 Position in Old National Bancorp (NASDAQ:ONB)

SageView Advisory Group LLC acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,506 shares of the bank’s stock, valued at approximately $301,000.

Several other institutional investors have also bought and sold shares of ONB. Verition Fund Management LLC increased its position in shares of Old National Bancorp by 48.9% during the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock valued at $63,787,000 after purchasing an additional 1,240,952 shares during the period. Hudson Edge Investment Partners Inc. bought a new stake in Old National Bancorp in the fourth quarter worth about $333,000. Rafferty Asset Management LLC lifted its holdings in Old National Bancorp by 55.3% in the 4th quarter. Rafferty Asset Management LLC now owns 454,142 shares of the bank’s stock valued at $7,670,000 after acquiring an additional 161,746 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in shares of Old National Bancorp by 113.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 155,889 shares of the bank’s stock valued at $2,633,000 after purchasing an additional 82,811 shares in the last quarter. Finally, Oliver Luxxe Assets LLC acquired a new position in shares of Old National Bancorp in the 4th quarter worth approximately $582,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays increased their price target 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. Finally, Hovde Group began coverage on Old National Bancorp in a report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Old National Bancorp Price Performance

Shares of ONB opened at $16.14 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 8.72 and a beta of 0.83. The business’s 50-day moving average is $16.63 and its 200-day moving average is $16.59. Old National Bancorp has a fifty-two week low of $12.36 and a fifty-two week high of $17.82.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to the consensus estimate 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 was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. Equities research analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Wednesday, June 5th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.47%. Old National Bancorp’s payout ratio is 30.27%.

Insider Buying and Selling at Old National Bancorp

In other news, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total transaction of $272,923.50. Following the completion of the sale, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at approximately $795,015.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Chady M. Alahmar sold 17,165 shares of Old National Bancorp stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total value of $272,923.50. Following the completion of the sale, the chief executive officer now owns 50,001 shares of the company’s stock, valued at approximately $795,015.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

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.