First National Bank of Omaha decreased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 98,700 shares of the bank’s stock after selling 9,440 shares during the period. First National Bank of Omaha’s holdings in Old National Bancorp were worth $1,722,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in Old National Bancorp by 5,903.3% during the 4th quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock worth $128,000 after purchasing an additional 7,202 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Old National Bancorp during the 3rd quarter worth about $129,000. Advisor Group Inc. increased its holdings in Old National Bancorp by 219.1% during the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after purchasing an additional 6,812 shares during the period. Stifel Financial Corp purchased a new stake in Old National Bancorp during the 3rd quarter worth about $196,000. Finally, Field & Main Bank purchased a new stake in Old National Bancorp during the 4th quarter worth about $206,000. Institutional investors own 64.50% of the company’s stock.
A number of research firms have recently commented on ONB. Zacks Investment Research downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. BidaskClub downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. ValuEngine downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price objective on shares of Old National Bancorp in a report on Friday, December 22nd. Finally, Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the company a “buy” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.19.
Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The firm had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. Old National Bancorp had a net margin of 14.10% and a return on equity of 7.80%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. sell-side analysts forecast that Old National Bancorp will post 1.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.12%. Old National Bancorp’s dividend payout ratio (DPR) is presently 73.24%.
Old National Bancorp Company Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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