Old National Bancorp (NASDAQ:ONB) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Old National Bancorp (NASDAQ:ONB) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,788 shares of the bank’s stock after acquiring an additional 5,042 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Old National Bancorp were worth $1,131,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Old National Bancorp by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank’s stock worth $241,176,000 after acquiring an additional 841,195 shares in the last quarter. Verition Fund Management LLC boosted its holdings 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 purchasing an additional 1,240,952 shares during the period. Bank of New York Mellon Corp grew its position in 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 valued at $60,923,000 after purchasing an additional 203,088 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in 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 buying an additional 25,519 shares during the period. Finally, Norges Bank purchased a new stake in Old National Bancorp in the 4th quarter worth approximately $55,808,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the sale, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were 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 of the company’s stock, valued at approximately $2,335,868.60. The disclosure for this sale can be found here. Insiders sold 62,165 shares of company stock worth $1,168,424 over the last ninety days. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ONB shares. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Royal Bank of Canada upped their target price on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Barclays lifted their price target on Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Finally, Hovde Group started coverage on Old National Bancorp in a report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average target price of $19.63.

Old National Bancorp Stock Down 1.6 %

Shares of ONB stock opened at $19.54 on Wednesday. The stock’s 50 day simple moving average is $18.59 and its 200 day simple moving average is $17.31. Old National Bancorp has a twelve month low of $12.36 and a twelve month high of $20.43. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 10.56 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $750.93 million for the quarter, compared to analyst estimates of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, research analysts predict that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 5th. Old National Bancorp’s dividend payout ratio is 30.27%.

Old National Bancorp 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.