Pacer Advisors Inc. Purchases 3,773 Shares of Old National Bancorp (NASDAQ:ONB)

Pacer Advisors Inc. raised its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,384 shares of the bank’s stock after purchasing an additional 3,773 shares during the quarter. Pacer Advisors Inc.’s holdings in Old National Bancorp were worth $815,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. Rise Advisors LLC bought a new position in Old National Bancorp during the 1st quarter valued at $28,000. HHM Wealth Advisors LLC purchased a new position in Old National Bancorp during the 2nd quarter worth $28,000. LRI Investments LLC bought a new stake in shares of Old National Bancorp in the 1st quarter worth $48,000. Finally, First Financial Corp IN raised its holdings in shares of Old National Bancorp by 176.8% in the second quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,887 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $18.46 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $18.94 and a two-hundred day simple moving average of $17.59. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 9.98 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The company had revenue of $750.93 million during the quarter, compared to the consensus estimate of $474.10 million. During the same quarter in the prior year, the company earned $0.54 EPS. Analysts anticipate that Old National Bancorp will post 1.85 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Analysts Set New Price Targets

Several research firms recently weighed in on ONB. Barclays boosted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday. Hovde Group started coverage on Old National Bancorp in a research note on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price on the stock. Royal Bank of Canada increased their price target on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Insider Activity at Old National Bancorp

In other Old National Bancorp news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the sale, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the completion of the transaction, the chief executive officer now owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the sale, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

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.