KBC Group NV Purchases 3,278 Shares of Old National Bancorp (NASDAQ:ONB)

KBC Group NV lifted its position in shares of Old National Bancorp (NASDAQ:ONB) by 33.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,067 shares of the bank’s stock after purchasing an additional 3,278 shares during the period. KBC Group NV’s holdings in Old National Bancorp were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Old National Bancorp by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank’s stock valued at $1,809,000 after acquiring an additional 1,207 shares during the period. Mackenzie Financial Corp increased its holdings in Old National Bancorp by 8.4% in the second quarter. Mackenzie Financial Corp now owns 19,714 shares of the bank’s stock valued at $339,000 after purchasing an additional 1,536 shares during the period. Algert Global LLC bought a new position in Old National Bancorp during the 2nd quarter worth $548,000. Creative Planning raised its position in Old National Bancorp by 35.4% during the 2nd quarter. Creative Planning now owns 80,065 shares of the bank’s stock worth $1,376,000 after purchasing an additional 20,947 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Old National Bancorp during the 2nd quarter worth about $399,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ONB shares. Barclays lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens reaffirmed an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $23.54 on Tuesday. The firm has a market capitalization of $7.51 billion, a P/E ratio of 14.01 and a beta of 0.87. The firm’s 50-day moving average price is $22.45 and its 200-day moving average price is $20.43. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 1-year low of $15.36 and a 1-year high of $24.17.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the prior year, the company posted $0.46 EPS. Equities research analysts anticipate that Old National Bancorp will post 2.05 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.38%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

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.