11,665 Shares in Old National Bancorp (ONB) Acquired by 361 Capital LLC
361 Capital LLC acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,665 shares of the bank’s stock, valued at approximately $213,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its stake in Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after purchasing an additional 6,812 shares during the period. Paragon Capital Management Ltd bought a new position in Old National Bancorp in the 2nd quarter valued at $186,000. Teacher Retirement System of Texas grew its stake in Old National Bancorp by 7.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after purchasing an additional 717 shares during the period. Adviser Investments LLC bought a new position in Old National Bancorp in the 3rd quarter valued at $212,000. Finally, Columbia Asset Management grew its stake in Old National Bancorp by 4.0% in the 2nd quarter. Columbia Asset Management now owns 12,478 shares of the bank’s stock valued at $215,000 after purchasing an additional 478 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.
A number of research analysts have recently commented on ONB shares. Zacks Investment Research cut Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. BidaskClub upgraded Old National Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. UBS AG upgraded Old National Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 19th. Jefferies Group LLC restated a “hold” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Friday, September 15th. Finally, Piper Jaffray Companies began coverage on Old National Bancorp in a report on Friday, October 6th. They issued a “neutral” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.92.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. The firm had revenue of $154.84 million for the quarter, compared to analyst estimates of $152.48 million. During the same period last year, the company posted $0.25 EPS. analysts predict that Old National Bancorp will post 1.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.96%. Old National Bancorp’s payout ratio is currently 47.71%.
Old National Bancorp 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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