Foundry Partners LLC Has $546,000 Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Foundry Partners LLC reduced its position in Old National Bancorp (NASDAQ:ONB) by 93.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,251 shares of the bank’s stock after selling 393,869 shares during the period. Foundry Partners LLC’s holdings in Old National Bancorp were worth $546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Old National Bancorp by 12.7% in 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 period. American Century Companies Inc. raised its position in shares of Old National Bancorp by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock valued at $242,795,000 after acquiring an additional 441,887 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Old National Bancorp by 147.3% in 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 period. Bank of New York Mellon Corp boosted its position in shares of Old National Bancorp by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock worth $60,923,000 after purchasing an additional 203,088 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Old National Bancorp by 0.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock worth $57,553,000 after purchasing an additional 25,519 shares during the period. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $21.65 on Friday. The company has a market capitalization of $6.91 billion, a P/E ratio of 13.12 and a beta of 0.82. Old National Bancorp has a 52 week low of $14.32 and a 52 week high of $22.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50 day moving average price is $19.55 and its two-hundred day moving average price is $18.47.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared 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 2.59%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.94%.

Analyst Upgrades and Downgrades

ONB has been the topic of a number of recent analyst reports. Barclays raised their target price on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $20.43.

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.