California Public Employees Retirement System lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 11.3% during the fourth quarter, Holdings Channel reports. The fund owned 344,608 shares of the bank’s stock after selling 44,062 shares during the period. California Public Employees Retirement System’s holdings in Old National Bancorp were worth $5,307,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ONB. LPL Financial LLC boosted its holdings in Old National Bancorp by 78.8% in the fourth quarter. LPL Financial LLC now owns 54,660 shares of the bank’s stock valued at $842,000 after acquiring an additional 24,086 shares during the last quarter. Toronto Dominion Bank bought a new stake in Old National Bancorp in the fourth quarter valued at approximately $35,000. Piedmont Investment Advisors Inc. boosted its holdings in Old National Bancorp by 2.2% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 35,849 shares of the bank’s stock valued at $552,000 after acquiring an additional 778 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Old National Bancorp in the fourth quarter valued at approximately $882,000. Finally, Private Management Group Inc. boosted its holdings in Old National Bancorp by 9.2% in the fourth quarter. Private Management Group Inc. now owns 1,115,234 shares of the bank’s stock valued at $17,175,000 after acquiring an additional 93,677 shares during the last quarter. Hedge funds and other institutional investors own 63.77% of the company’s stock.

Shares of ONB opened at $17.05 on Friday. Old National Bancorp has a 52-week low of $14.45 and a 52-week high of $20.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 22nd. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). Old National Bancorp had a net margin of 23.05% and a return on equity of 8.69%. The business had revenue of $204.38 million during the quarter, compared to analyst estimates of $194.62 million. During the same period last year, the firm posted $0.22 earnings per share. Equities analysts predict that Old National Bancorp will post 1.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, February 28th. Old National Bancorp’s dividend payout ratio (DPR) is presently 40.31%.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. BidaskClub lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Boenning Scattergood reissued a “buy” rating on shares of Old National Bancorp in a research note on Thursday, January 24th. Finally, ValuEngine lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.38.

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Old National Bancorp Profile

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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