CIBC Private Wealth Group LLC Has $356,000 Holdings in Old National Bancorp (NASDAQ:ONB)

CIBC Private Wealth Group LLC lifted its stake in Old National Bancorp (NASDAQ:ONB) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 16,744 shares of the bank’s stock after buying an additional 615 shares during the period. CIBC Private Wealth Group LLC’s holdings in Old National Bancorp were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in shares of Old National Bancorp during the 4th quarter worth about $25,000. Empowered Funds LLC acquired a new stake in Old National Bancorp during the fourth quarter worth about $28,000. Versant Capital Management Inc increased its stake in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after acquiring an additional 615 shares during the period. UMB Bank n.a. raised its holdings in Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after acquiring an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Old National Bancorp in the 4th quarter worth approximately $65,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $17.97 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The firm has a market cap of $5.73 billion, a PE ratio of 10.70 and a beta of 0.82. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company’s 50-day moving average price is $22.44 and its two-hundred day moving average price is $21.44.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the company posted $0.46 EPS. On average, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.12%. Old National Bancorp’s dividend payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ONB shares. Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James dropped their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays increased their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Old National Bancorp Profile

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