Creative Planning Purchases 15,250 Shares of Old National Bancorp (NASDAQ:ONB)

Creative Planning increased its position in shares of Old National Bancorp (NASDAQ:ONB) by 19.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,315 shares of the bank’s stock after buying an additional 15,250 shares during the period. Creative Planning’s holdings in Old National Bancorp were worth $1,779,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Old National Bancorp by 211.3% in the second quarter. Victory Capital Management Inc. now owns 2,922,022 shares of the bank’s stock valued at $50,230,000 after purchasing an additional 1,983,476 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Old National Bancorp by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after purchasing an additional 1,896,748 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Old National Bancorp by 6,650.2% in the second quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock valued at $21,931,000 after purchasing an additional 1,256,892 shares in the last quarter. Equitable Trust Co. bought a new stake in Old National Bancorp in the second quarter valued at $8,681,000. Finally, American Century Companies Inc. increased its stake in Old National Bancorp by 3.2% in the second quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock valued at $242,795,000 after purchasing an additional 441,887 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Up 3.2 %

ONB stock opened at $19.31 on Tuesday. Old National Bancorp has a twelve month low of $13.33 and a twelve month high of $20.43. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average is $18.86 and its 200-day moving average is $17.90. The firm has a market capitalization of $6.16 billion, a PE ratio of 11.70 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 14.38% and a net margin of 17.93%. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same quarter last year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.90%. Old National Bancorp’s dividend payout ratio is presently 33.94%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ONB shares. Barclays lifted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada lifted their price target 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. Finally, StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

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.