Credit Suisse AG lifted its position in shares of Old National Bancorp (NASDAQ:ONB) by 10.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,707 shares of the bank’s stock after buying an additional 12,900 shares during the quarter. Credit Suisse AG owned approximately 0.08% of Old National Bancorp worth $2,555,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONB. Kessler Investment Group LLC purchased a new position in shares of Old National Bancorp during the 4th quarter valued at $48,000. Quantbot Technologies LP bought a new stake in Old National Bancorp in the 4th quarter valued at $49,000. Pinnacle Financial Partners Inc. bought a new stake in Old National Bancorp in the 4th quarter valued at $56,000. Point72 Asset Management L.P. increased its holdings in Old National Bancorp by 462.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,500 shares of the bank’s stock valued at $77,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Old National Bancorp by 155.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,843 shares of the bank’s stock valued at $198,000 after acquiring an additional 6,591 shares during the last quarter. Institutional investors own 70.30% of the company’s stock.
Shares of NASDAQ ONB opened at $12.18 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $2.21 billion, a P/E ratio of 8.82 and a beta of 0.99. The firm’s fifty day moving average is $16.21 and its two-hundred day moving average is $17.50. Old National Bancorp has a 52-week low of $11.92 and a 52-week high of $18.74.
Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Old National Bancorp had a return on equity of 8.80% and a net margin of 25.62%. The business had revenue of $196.63 million during the quarter, compared to the consensus estimate of $196.10 million. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, analysts forecast that Old National Bancorp will post 1.33 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.14 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Old National Bancorp’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.60%. Old National Bancorp’s payout ratio is 38.62%.
A number of analysts have issued reports on ONB shares. BidaskClub upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Zacks Investment Research downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, ValuEngine upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, Old National Bancorp has an average rating of “Hold” and an average price target of $19.00.
About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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