MQS Management LLC Has $470,000 Holdings in Old National Bancorp (NASDAQ:ONB)

MQS Management LLC boosted its position in shares of Old National Bancorp (NASDAQ:ONB) by 31.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,195 shares of the bank’s stock after acquiring an additional 6,061 shares during the period. MQS Management LLC’s holdings in Old National Bancorp were worth $470,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in Old National Bancorp by 147.3% during the 3rd 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 last quarter. Dimensional Fund Advisors LP raised its position in shares of Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after buying an additional 1,896,748 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Old National Bancorp by 6,650.2% in the second quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock valued at $21,931,000 after buying an additional 1,256,892 shares during the period. New York State Common Retirement Fund grew its position in Old National Bancorp by 469.7% during the third quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock worth $19,400,000 after buying an additional 857,158 shares in the last quarter. Finally, Equitable Trust Co. acquired a new position in Old National Bancorp in the 2nd quarter valued at approximately $8,681,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ONB has been the topic of a number of research reports. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Royal Bank of Canada increased their price target on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price objective on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.43.

Old National Bancorp Stock Down 0.8 %

Shares of ONB opened at $22.19 on Thursday. The business’s 50 day simple moving average is $19.17 and its 200-day simple moving average is $18.26. Old National Bancorp has a one year low of $14.32 and a one year high of $22.75. The company has a market capitalization of $7.08 billion, a P/E ratio of 13.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $485.86 million for the quarter, compared to analysts’ expectations of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts predict that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is currently 33.94%.

Old National Bancorp Company 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.