Old National Bancorp (ONB) Position Increased by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,045 shares of the bank’s stock after buying an additional 7,100 shares during the period. Great West Life Assurance Co. Can owned approximately 0.15% of Old National Bancorp worth $3,389,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in Old National Bancorp by 2.4% in the first quarter. Wells Fargo & Company MN now owns 200,753 shares of the bank’s stock valued at $3,482,000 after buying an additional 4,640 shares in the last quarter. North Star Investment Management Corp. increased its position in Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock valued at $105,000 after buying an additional 1,225 shares in the last quarter. Dubuque Bank & Trust Co. bought a new position in Old National Bancorp during the first quarter valued at approximately $313,000. Sit Investment Associates Inc. increased its position in Old National Bancorp by 227.2% in the first quarter. Sit Investment Associates Inc. now owns 24,050 shares of the bank’s stock valued at $417,000 after buying an additional 16,700 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. increased its position in Old National Bancorp by 4.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 71,645 shares of the bank’s stock valued at $1,243,000 after buying an additional 3,275 shares in the last quarter. 71.26% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp (ONB) opened at 16.25 on Friday. Old National Bancorp has a 1-year low of $13.49 and a 1-year high of $18.95. The stock has a market cap of $2.20 billion, a P/E ratio of 15.43 and a beta of 1.10. The company has a 50-day moving average of $16.76 and a 200 day moving average of $17.11.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, July 25th. The bank reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a net margin of 21.02% and a return on equity of 8.25%. The company had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Analysts predict that Old National Bancorp will post $1.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 3.20%. Old National Bancorp’s payout ratio is currently 49.52%.

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Several research analysts recently commented on ONB shares. Zacks Investment Research raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, May 25th. BidaskClub raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Friday, May 5th. Hilliard Lyons raised shares of Old National Bancorp from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $17.50 in a research note on Thursday, April 27th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Old National Bancorp has a consensus rating of “Hold” and an average target price of $18.30.

In other Old National Bancorp news, insider John R. Kamin sold 7,332 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $17.03, for a total transaction of $124,863.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John R. Kamin sold 5,531 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.56, for a total transaction of $91,593.36. The disclosure for this sale can be found here. Insiders sold 13,863 shares of company stock worth $232,637 in the last ninety days. 1.79% of the stock is currently owned by corporate insiders.

About Old National Bancorp

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.