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.
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.
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