10,627 Shares in Old National Bancorp (NASDAQ:ONB) Acquired by Greenleaf Trust

Greenleaf Trust bought a new stake in shares of Old National Bancorp (NASDAQ:ONB) in the fourth quarter, Holdings Channel.com reports. The fund bought 10,627 shares of the bank’s stock, valued at approximately $231,000.

Several other hedge funds have also recently added to or reduced their stakes in ONB. EMC Capital Management lifted its stake in shares of Old National Bancorp by 145.2% in the 4th quarter. EMC Capital Management now owns 22,445 shares of the bank’s stock valued at $487,000 after purchasing an additional 13,293 shares during the period. Pacer Advisors Inc. increased its holdings in Old National Bancorp by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 47,550 shares of the bank’s stock worth $1,032,000 after purchasing an additional 975 shares in the last quarter. KBC Group NV lifted its stake in Old National Bancorp by 33.5% in the fourth quarter. KBC Group NV now owns 13,067 shares of the bank’s stock valued at $284,000 after buying an additional 3,278 shares during the period. UMB Bank n.a. boosted its holdings in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $220,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $24.45 on Friday. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 14.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a fifty-two week low of $15.36 and a fifty-two week high of $24.49. The firm’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $20.51.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same period last year, the firm earned $0.46 EPS. As a group, research analysts anticipate that Old National Bancorp will post 2.05 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 issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 5th. Old National Bancorp’s dividend payout ratio is 33.33%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ONB shares. Keefe, Bruyette & Woods boosted their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Stephens reiterated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James reaffirmed a “strong-buy” rating and issued a $29.00 target price (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays increased their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

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.