HighTower Advisors LLC Raises Stock Holdings in Old National Bancorp (NASDAQ:ONB)

HighTower Advisors LLC boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,659 shares of the bank’s stock after purchasing an additional 2,472 shares during the quarter. HighTower Advisors LLC’s holdings in Old National Bancorp were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in shares of Old National Bancorp by 1.4% during the 4th quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after purchasing an additional 432 shares during the last quarter. Versant Capital Management Inc raised its stake in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after buying an additional 615 shares during the last quarter. Stifel Financial Corp boosted its holdings in Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock worth $1,000,000 after acquiring an additional 648 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Old National Bancorp by 0.8% during the fourth quarter. Arizona State Retirement System now owns 92,571 shares of the bank’s stock valued at $2,009,000 after acquiring an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $21.19 on Tuesday. The firm’s fifty day moving average is $22.72 and its two-hundred day moving average is $21.43. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 12.61 and a beta of 0.85. Old National Bancorp has a one year low of $15.38 and a one year high of $24.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the business earned $0.46 EPS. Research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

A number of analysts recently commented on ONB shares. Barclays lifted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Raymond James reissued a “strong-buy” rating and set a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Stephens restated an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.29.

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.