Zurcher Kantonalbank Zurich Cantonalbank Has $1.27 Million Stake in Old National Bancorp (NASDAQ:ONB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Old National Bancorp (NASDAQ:ONB) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,147 shares of the bank’s stock after acquiring an additional 2,359 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Old National Bancorp were worth $1,272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONB. Studio Investment Management LLC increased its stake in shares of Old National Bancorp by 2.6% in the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock worth $388,000 after purchasing an additional 524 shares during the period. CWM LLC boosted its position in shares of Old National Bancorp by 0.7% in the third 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 period. Forum Financial Management LP grew its stake in shares of Old National Bancorp by 3.9% in the second quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock worth $346,000 after acquiring an additional 748 shares during the last quarter. GAMMA Investing LLC increased its position in Old National Bancorp by 194.8% during the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after acquiring an additional 1,005 shares during the period. Finally, Securian Asset Management Inc. raised its stake in Old National Bancorp by 4.6% during the 2nd quarter. Securian Asset Management Inc. now owns 25,186 shares of the bank’s stock valued at $433,000 after purchasing an additional 1,119 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONB has been the topic of several research analyst reports. Barclays raised their price target on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Raymond James upgraded Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, November 26th. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank of Canada boosted their price objective on Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Old National Bancorp Trading Up 0.1 %

Shares of Old National Bancorp stock opened at $23.12 on Friday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 14.01 and a beta of 0.86. Old National Bancorp has a 12-month low of $15.36 and a 12-month high of $23.76. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The company has a 50-day simple moving average of $20.22 and a 200 day simple moving average of $18.79.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same period in the prior year, the company earned $0.51 EPS. Old National Bancorp’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.14 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.42%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

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.