Vaughan Nelson Investment Management L.P. Has $28.14 Million Holdings in Old National Bancorp (NASDAQ:ONB)

Vaughan Nelson Investment Management L.P. raised its position in Old National Bancorp (NASDAQ:ONB) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,616,464 shares of the bank’s stock after buying an additional 219,845 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.55% of Old National Bancorp worth $28,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in Old National Bancorp by 24.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock valued at $55,000 after buying an additional 650 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Old National Bancorp by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock worth $227,000 after acquiring an additional 876 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of Old National Bancorp by 9.2% during the first quarter. Independence Bank of Kentucky now owns 11,962 shares of the bank’s stock worth $208,000 after buying an additional 1,006 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Old National Bancorp by 14.5% during the fourth quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after buying an additional 1,020 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Old National Bancorp by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 366,492 shares of the bank’s stock worth $6,190,000 after buying an additional 1,163 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Chady M. Alahmar sold 17,165 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 50,001 shares in the company, valued at $795,015.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Chady M. Alahmar sold 17,165 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total transaction of $272,923.50. Following the completion of the transaction, the chief executive officer now owns 50,001 shares in the company, valued at $795,015.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brendon B. Falconer sold 49,375 shares of the 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 transaction, the chief financial officer now owns 88,712 shares of the company’s stock, valued at approximately $1,444,231.36. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 9th. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. Hovde Group started coverage on shares of Old National Bancorp in a research note on Monday, June 3rd. They set an “outperform” rating and a $20.00 price target for the company. Finally, Barclays boosted their price objective on shares of Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Old National Bancorp Stock Up 1.0 %

Old National Bancorp stock opened at $17.27 on Wednesday. The stock has a market capitalization of $5.51 billion, a PE ratio of 9.34 and a beta of 0.84. Old National Bancorp has a twelve month low of $12.36 and a twelve month high of $17.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $16.78 and a 200-day moving average of $16.62.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to analysts’ expectations of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities research analysts anticipate that Old National Bancorp will post 1.82 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Wednesday, June 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Wednesday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

About Old National Bancorp

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.