Independence Bank of Kentucky Buys Shares of 27,441 Old National Bancorp (ONB)

Independence Bank of Kentucky bought a new stake in shares of Old National Bancorp (NASDAQ:ONB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,441 shares of the bank’s stock, valued at approximately $479,000.

A number of other large investors have also made changes to their positions in the stock. Meeder Asset Management Inc. lifted its position in shares of Old National Bancorp by 5,903.3% in the 4th quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock worth $128,000 after acquiring an additional 7,202 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Old National Bancorp in the 3rd quarter worth approximately $129,000. Advisor Group Inc. lifted its position in shares of Old National Bancorp by 219.1% in the 3rd quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock worth $181,000 after acquiring an additional 6,812 shares during the period. Stifel Financial Corp bought a new stake in shares of Old National Bancorp in the 3rd quarter worth approximately $196,000. Finally, Field & Main Bank bought a new stake in shares of Old National Bancorp in the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 64.43% of the company’s stock.

Old National Bancorp (NASDAQ ONB) opened at $17.55 on Thursday. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $18.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $2,615.09, a P/E ratio of 24.72 and a beta of 0.90.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). Old National Bancorp had a return on equity of 7.80% and a net margin of 14.10%. The company had revenue of $163.40 million during the quarter, compared to analyst estimates of $170.13 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. research analysts predict that Old National Bancorp will post 1.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued 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 2.96%. Old National Bancorp’s payout ratio is presently 73.24%.

A number of brokerages have commented on ONB. Zacks Investment Research downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Boenning Scattergood set a $21.00 price objective on Old National Bancorp and gave the stock a “buy” rating in a research report on Thursday, October 26th. BidaskClub upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, ValuEngine downgraded Old National Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Old National Bancorp presently has a consensus rating of “Hold” and an average price target of $19.38.

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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.

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

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