BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys Shares of 433,708 Old National Bancorp (NASDAQ:ONB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Old National Bancorp (NASDAQ:ONB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 433,708 shares of the bank’s stock, valued at approximately $8,093,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.14% of Old National Bancorp at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC lifted its stake in Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after buying an additional 1,005 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Old National Bancorp during the 2nd quarter worth about $28,000. LRI Investments LLC acquired a new position in Old National Bancorp in the 1st quarter valued at about $48,000. Finally, Quest Partners LLC purchased a new position in Old National Bancorp in the 3rd quarter valued at about $91,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Barclays lifted their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.43.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $21.65 on Monday. 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 firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 13.12 and a beta of 0.82. Old National Bancorp has a one year low of $14.32 and a one year high of $22.75. The company has a 50 day moving average price of $19.55 and a 200 day moving average price of $18.48.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The business had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s dividend payout ratio is currently 33.94%.

About Old National Bancorp

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.