Dimensional Fund Advisors LP Purchases 1,896,748 Shares of Old National Bancorp (NASDAQ:ONB)

Dimensional Fund Advisors LP grew its position in Old National Bancorp (NASDAQ:ONB) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,840,509 shares of the bank’s stock after purchasing an additional 1,896,748 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.28% of Old National Bancorp worth $289,481,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Forum Financial Management LP boosted its position in Old National Bancorp by 3.9% during the second quarter. Forum Financial Management LP now owns 20,152 shares of the bank’s stock valued at $346,000 after acquiring an additional 748 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Old National Bancorp by 1.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 95,145 shares of the bank’s stock valued at $1,656,000 after purchasing an additional 919 shares in the last quarter. GAMMA Investing LLC grew its stake in Old National Bancorp by 194.8% during the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares during the period. Independence Bank of Kentucky increased its holdings in Old National Bancorp by 9.2% in the first quarter. Independence Bank of Kentucky now owns 11,962 shares of the bank’s stock worth $208,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Old National Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 367,501 shares of the bank’s stock valued at $6,398,000 after buying an additional 1,009 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ONB. Barclays raised their price objective on shares of Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Royal Bank of Canada raised 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 report on Wednesday, July 24th. Hovde Group assumed coverage on shares of Old National Bancorp in a report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Old National Bancorp Stock Up 0.3 %

Shares of NASDAQ ONB opened at $18.92 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93. Old National Bancorp has a 1 year low of $12.36 and a 1 year high of $20.43. The stock has a market capitalization of $6.03 billion, a P/E ratio of 10.22 and a beta of 0.83. The company has a 50-day moving average price of $18.91 and a 200-day moving average price of $17.45.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $750.93 million during the quarter, compared to the consensus estimate of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same quarter in the previous year, the business earned $0.54 EPS. On average, equities research analysts forecast that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is currently 30.27%.

Insider Buying and Selling at Old National Bancorp

In other news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the sale, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the sale, the insider now directly owns 117,676 shares of the company’s stock, valued at $2,335,868.60. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

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.