Mutual of America Capital Management LLC Raises Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Mutual of America Capital Management LLC increased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,800 shares of the bank’s stock after purchasing an additional 6,431 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Old National Bancorp worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Leuthold Group LLC acquired a new position in shares of Old National Bancorp in the first quarter valued at approximately $3,142,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Old National Bancorp by 188.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock worth $885,000 after purchasing an additional 33,615 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Old National Bancorp by 330.1% in the fourth quarter. Hsbc Holdings PLC now owns 93,149 shares of the bank’s stock valued at $1,581,000 after purchasing an additional 71,489 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Old National Bancorp by 35.1% in the first 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 purchasing an additional 29,400 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Old National Bancorp by 27.9% during the first quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock worth $7,777,000 after buying an additional 97,350 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Old National Bancorp

In related news, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the transaction, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Kendra L. Vanzo sold 20,000 shares of Old National Bancorp stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at $5,730,935.46. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ONB shares. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada boosted their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Hovde Group began coverage on Old National Bancorp in a report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Barclays upped their price target on Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.63.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $18.97 on Tuesday. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 10.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43. The business has a 50-day moving average of $19.03 and a 200-day moving average of $17.54.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. The company had revenue of $750.93 million during the quarter, compared to the consensus estimate of $474.10 million. During the same quarter last year, the company earned $0.54 earnings per share. On average, equities analysts anticipate that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.95%. Old National Bancorp’s dividend payout ratio is currently 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.