Fisher Asset Management LLC Grows Position in Old National Bancorp (NASDAQ:ONB)

Fisher Asset Management LLC grew its stake in Old National Bancorp (NASDAQ:ONB) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,186,132 shares of the bank’s stock after buying an additional 90,747 shares during the period. Fisher Asset Management LLC’s holdings in Old National Bancorp were worth $59,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Old National Bancorp by 147.3% in the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock valued at $134,820,000 after purchasing an additional 4,303,071 shares during the period. Dimensional Fund Advisors LP increased its holdings in Old National Bancorp by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after buying an additional 1,896,748 shares during the period. Point72 Asset Management L.P. raised its position in Old National Bancorp by 6,650.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock worth $21,931,000 after buying an additional 1,256,892 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Old National Bancorp by 469.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock valued at $19,400,000 after acquiring an additional 857,158 shares during the period. Finally, Equitable Trust Co. acquired a new stake in shares of Old National Bancorp in the second quarter worth $8,681,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 27th. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and an average price target of $20.43.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $22.94 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 52 week low of $14.32 and a 52 week high of $23.76. The stock’s 50-day moving average price is $19.63 and its 200-day moving average price is $18.52. The stock has a market capitalization of $7.32 billion, a PE ratio of 13.90 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. As a group, equities analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s dividend payout ratio is presently 33.94%.

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.