Sei Investments Co. Grows Stake in Old National Bancorp (NASDAQ:ONB)

Sei Investments Co. lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,410,059 shares of the bank’s stock after acquiring an additional 197,706 shares during the period. Sei Investments Co. owned 0.44% of Old National Bancorp worth $24,239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ONB. Norges Bank acquired a new stake in Old National Bancorp during the fourth quarter worth approximately $55,808,000. UBS Group AG boosted its stake in Old National Bancorp by 363.3% in the fourth quarter. UBS Group AG now owns 444,001 shares of the bank’s stock valued at $7,499,000 after acquiring an additional 348,159 shares in the last quarter. US Bancorp DE grew its holdings in shares of Old National Bancorp by 22.6% during the fourth quarter. US Bancorp DE now owns 45,411 shares of the bank’s stock worth $767,000 after purchasing an additional 8,356 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Old National Bancorp during the fourth quarter worth about $301,000. Finally, Hsbc Holdings PLC boosted its position in shares of Old National Bancorp by 330.1% in the 4th 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. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the subject of a number of research reports. Royal Bank of Canada boosted their price objective on 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. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Hovde Group started coverage on shares of Old National Bancorp in a research report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Barclays upped their target price 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.63.

Old National Bancorp Stock Down 1.8 %

ONB stock opened at $18.63 on Wednesday. The stock has a market capitalization of $5.94 billion, a PE ratio of 10.07 and a beta of 0.83. The company has a fifty day moving average of $19.01 and a 200-day moving average of $17.56. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. Old National Bancorp has a one year low of $12.36 and a one year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 firm 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 firm earned $0.54 earnings per share. As a group, analysts expect that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is presently 30.27%.

Insiders Place Their Bets

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

Old National Bancorp Company 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.