Old National Bancorp (NASDAQ: O.N.B.) disclosed to the Securities and Exchange Commission in its most recent quarterly report that the State of New Jersey Common Pension Fund D holdings in the company went down by 5.9% during the third quarter (S.E.C.). Following the sale of 8,758 shares of the bank’s stock throughout the period, the fund ended with a total of 139,817 shares in its possession. The value of the Old National Bancorp holdings owned by the State of New Jersey Common Pension Fund D was calculated to be $2,303,000 as of the end of the most recent fiscal quarter of the company’s most recent fiscal year.
Throughout the past few months, a wide variety of other institutional investors have engaged in transactions that included the buying and selling shares of stock in the company. The amount of Old National Bancorp stock that Comerica Bank owned as of the third quarter increased by 5.1% thanks to the bank’s acquisition of additional shares. Comerica Bank now has a total of 253,244 shares of the company’s stock, which are worth a combined total of $4,644,000 after the acquisition of an additional 12,299 shares during the most recent quarter of the company’s fiscal year. Old National Bancorp received a financial contribution of 176,000 dollars from Fox Run Management L.L.C. during the second quarter of 2018. Foundry Partners L.L.C. increased the amount of Old National Bancorp stock owned by 1.1% over the second quarter. After purchasing an additional 3,162 shares during the most recent quarter, Foundry Partners L.L.C. now owns a total of 283,843 shares of the bank’s stock, which has a value of $4,198,000. This brings the total number of shares the company has in its possession to 283,843. During the second quarter, Los Angeles Capital Management L.L.C. successfully achieved a 35.8 percentage point increase in the amount of Old National Bancorp stock it owned. In the most recent fiscal quarter, Los Angeles Capital Management L.L.C. increased its holdings in the company’s stock by purchasing an additional 3,910 shares, bringing their total holdings to 14,818 shares of the company’s stock, which have a market value of $219,000. In the second quarter, Ronald Blue Trust Inc. shelled out $66,000 to acquire a new investment in Old National Bancorp. This is by no means the least of Ronald Blue Trust Inc.’s financial transactions. Institutional investors and hedge funds collectively hold a stake in the company equal to 76.41% of the total number of shares outstanding.
Several analysts have provided commentary on the shares of O.N.B. Old National Bancorp’s stock was given a “sell” recommendation in a study conducted by StockNews.com, published on January 11, 2019, and made available to the general public. On October 26, Royal Bank of Canada increased their share price objective for Old National Bancorp from $20.00 to $21.00, and the stock was rated “sector perform.” The report was distributed on October 26. There are currently buy ratings on the company’s shares that two equity research experts have assigned, a hold rating on the stock that one analyst has assigned, and a sell rating that another analyst has assigned. According to Bloomberg, the current recommendation for Old National Bancorp is “Hold,” and the general price objective for the company is reportedly set at $21.67.
When trading began on Tuesday, the price of a share of O.N.B. stock was established at $18.60. A price-to-earnings ratio of 17.55 has been assigned to the company’s stock, and its beta value is 0.85. The company’s total value, as represented by its market capitalization, is $5.45 billion. $18.30 is the company’s average price over the past 50 days, and $17.57 is its average price over the past 200 days. A debt-to-equity ratio comes in at 0.75, a current ratio comes in at 0.83, and a quick ratio comes in at 0.83. These are all comparable numbers. Old National Bancorp hit a low of $14.22 during the past year, while the company’s stock reached a high of $20.81 during the same period.
The most recent earnings report for Old National Bancorp (NASDAQ: O.N.B.) was made public on October 25, which was a Tuesday. The bank came in with earnings per share (EPS) of $0.51 for the quarter, which was $0.02 higher than the estimate floating around among investors, which was $0.49 per share. The actual amount of revenue that the company brought in during the quarter was $461.92 million, which is higher than the forecasted amount of $438.18 million that it would bring in during the quarter. Old National Bancorp had a return on equity of 10.06 percent, and the company’s net margin was 19.71%. Both of these figures are presented as percentages. Compared to the same quarter of the previous year, the increase in revenue was 120.4% higher than expected. The company generated $0.43 per share during the same period the year before. The current fiscal year is expected to bring in an average profit of $1.97 per share for Old National Bancorp, which is according to projections made by industry analysts.
In addition, the company announced a quarterly dividend, and on December 15, that dividend was paid out to shareholders. On December 1, shareholders of record were eligible to receive a dividend payment of $0.14 per share, which was distributed. This dividend had an ex-dividend date of November 30, a Wednesday, and the day after Thanksgiving. This translates to a yield of 3.01% and an annual dividend payment of $0.56 for the foreseeable future. The dividend payout ratio (D.P.R.) for Old National Bancorp is 52.83 percent at the time of this writing.
Old National Bancorp is the owner of Old National Bank, a financial institution in the United States that provides customers with a wide range of financial services. Both private individuals and commercial enterprises can make use of these services. In addition, it is willing to collaborate with borrowers on any type of loan, such as home equity lines of credit, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing. In addition, it recognizes demand deposits that do not accrue interest, checking accounts that do accrue interest, savings accounts that do accrue interest, money market deposits that do accrue interest, and time deposits that do accrue interest.