Versant Capital Management Inc Buys 615 Shares of Old National Bancorp (NASDAQ:ONB)

Versant Capital Management Inc boosted its position in shares of Old National Bancorp (NASDAQ:ONB) by 58.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,668 shares of the bank’s stock after acquiring an additional 615 shares during the period. Versant Capital Management Inc’s holdings in Old National Bancorp were worth $36,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Old National Bancorp by 5.4% during the second quarter. Rhumbline Advisers now owns 1,144,988 shares of the bank’s stock worth $19,682,000 after buying an additional 58,227 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Old National Bancorp by 211.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,922,022 shares of the bank’s stock valued at $50,230,000 after acquiring an additional 1,983,476 shares in the last quarter. Arizona State Retirement System increased its stake in Old National Bancorp by 10.2% in the second quarter. Arizona State Retirement System now owns 88,660 shares of the bank’s stock valued at $1,524,000 after acquiring an additional 8,241 shares during the period. United Services Automobile Association raised its position in Old National Bancorp by 29.8% in the second quarter. United Services Automobile Association now owns 25,235 shares of the bank’s stock worth $434,000 after purchasing an additional 5,791 shares in the last quarter. Finally, Studio Investment Management LLC raised its position in Old National Bancorp by 5.7% in the second 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 in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ONB shares. Keefe, Bruyette & Woods lifted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a 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 report on Tuesday, November 26th. Barclays lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada boosted their target price on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 26th. Finally, StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.38.

Old National Bancorp Stock Down 1.0 %

Shares of NASDAQ ONB opened at $21.26 on Tuesday. Old National Bancorp has a 12-month low of $15.36 and a 12-month high of $23.76. The firm’s 50-day simple moving average is $21.77 and its 200 day simple moving average is $19.71. 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 market cap of $6.78 billion, a price-to-earnings ratio of 12.88 and a beta of 0.87.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. On average, research analysts expect that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.63%. Old National Bancorp’s payout ratio is 33.94%.

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.