State of Alaska Department of Revenue Purchases 2,510 Shares of Old National Bancorp (NASDAQ:ONB)

State of Alaska Department of Revenue grew its position in Old National Bancorp (NASDAQ:ONB) by 7.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 36,583 shares of the bank’s stock after acquiring an additional 2,510 shares during the period. State of Alaska Department of Revenue’s holdings in Old National Bancorp were worth $682,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. CWM LLC lifted its stake in shares of Old National Bancorp by 0.7% in the 3rd quarter. CWM LLC now owns 87,365 shares of the bank’s stock valued at $1,630,000 after acquiring an additional 591 shares during the last quarter. Forum Financial Management LP raised its position in Old National Bancorp by 3.9% during the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock worth $346,000 after purchasing an additional 748 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Old National Bancorp by 1.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 95,145 shares of the bank’s stock worth $1,656,000 after purchasing an additional 919 shares during the last quarter. GAMMA Investing LLC raised its position in Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Studio Investment Management LLC raised its position in Old National Bancorp by 5.7% during the 2nd quarter. Studio Investment Management LLC now owns 20,279 shares of the bank’s stock worth $349,000 after purchasing an additional 1,100 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $22.15 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $18.87 and a two-hundred day moving average price of $18.04. Old National Bancorp has a 1-year low of $13.67 and a 1-year high of $22.19. The company has a market cap of $7.07 billion, a P/E ratio of 13.42 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. As a group, analysts anticipate that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.53%. Old National Bancorp’s dividend payout ratio is presently 33.94%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ONB shares. Royal Bank of Canada raised 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 raised their target price on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.43.

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.