Thrivent Financial for Lutherans Has $9.68 Million Stake in Old National Bancorp (NASDAQ:ONB)

Thrivent Financial for Lutherans decreased its position in Old National Bancorp (NASDAQ:ONB) by 37.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 445,737 shares of the bank’s stock after selling 271,403 shares during the quarter. Thrivent Financial for Lutherans owned 0.14% of Old National Bancorp worth $9,675,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONB. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at about $28,000. Versant Capital Management Inc increased its position in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after acquiring an additional 615 shares during the last quarter. UMB Bank n.a. increased its position in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after acquiring an additional 663 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at about $65,000. Finally, Allworth Financial LP increased its position in shares of Old National Bancorp by 150.5% in the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank’s stock valued at $82,000 after acquiring an additional 2,107 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ONB. Barclays lifted their target price on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Finally, Raymond James reiterated a “strong-buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Trading Down 0.8 %

Old National Bancorp stock opened at $21.20 on Friday. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The stock has a market capitalization of $6.76 billion, a P/E ratio of 12.62 and a beta of 0.85. The stock has a 50-day simple moving average of $22.84 and a 200 day simple moving average of $21.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is presently 33.33%.

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.