Old National Bancorp (NASDAQ:ONB) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its stake in Old National Bancorp (NASDAQ:ONB) by 7.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 363,637 shares of the bank’s stock after buying an additional 25,164 shares during the quarter. MetLife Investment Management LLC’s holdings in Old National Bancorp were worth $7,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. HighTower Advisors LLC raised its stake in shares of Old National Bancorp by 26.5% during the 3rd quarter. HighTower Advisors LLC now owns 14,187 shares of the bank’s stock worth $267,000 after buying an additional 2,969 shares during the last quarter. Stifel Financial Corp increased its holdings in Old National Bancorp by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after acquiring an additional 648 shares in the last quarter. Barclays PLC raised its position in Old National Bancorp by 93.6% during the third quarter. Barclays PLC now owns 839,504 shares of the bank’s stock worth $15,665,000 after acquiring an additional 405,956 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Old National Bancorp by 31.1% in the third quarter. Sanctuary Advisors LLC now owns 31,597 shares of the bank’s stock valued at $590,000 after purchasing an additional 7,489 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Old National Bancorp by 13.5% in the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock valued at $65,275,000 after purchasing an additional 416,647 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Down 2.0 %

Shares of ONB opened at $19.20 on Tuesday. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49. The company’s fifty day moving average is $21.17 and its two-hundred day moving average is $21.47. The firm has a market cap of $6.12 billion, a PE ratio of 11.43 and a beta of 0.82. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly 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 quarter last year, the firm earned $0.46 earnings per share. Analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.92%. Old National Bancorp’s dividend payout ratio (DPR) is 33.33%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ONB shares. Raymond James cut their price objective on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Barclays cut their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Stephens reissued an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

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.