19,134 Shares in Old National Bancorp (NASDAQ:ONB) Bought by MQS Management LLC

MQS Management LLC bought a new stake in Old National Bancorp (NASDAQ:ONB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,134 shares of the bank’s stock, valued at approximately $329,000.

Several other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Old National Bancorp by 12.7% in the 2nd 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. American Century Companies Inc. boosted its position 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 buying an additional 441,887 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Old National Bancorp by 48.9% during the fourth quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock worth $63,787,000 after buying an additional 1,240,952 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old National Bancorp by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock worth $60,923,000 after buying an additional 203,088 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of Old National Bancorp by 0.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock valued at $57,553,000 after acquiring an additional 25,519 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ONB shares. Hovde Group assumed coverage on Old National Bancorp in a report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price for the company. Royal Bank of Canada upped 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 downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Finally, Barclays upped their price target on shares of Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and an average target price of $19.63.

Insider Buying and Selling

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

Old National Bancorp Stock Down 2.2 %

Old National Bancorp stock opened at $19.04 on Friday. The firm has a 50 day moving average price of $19.00 and a two-hundred day moving average price of $17.50. 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 52-week low of $12.36 and a 52-week high of $20.43. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 10.29 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last released its earnings results 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 business had revenue of $750.93 million for the quarter, compared to analyst estimates of $474.10 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. Equities analysts predict that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.94%. Old National Bancorp’s payout ratio is 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.