Old National Bancorp Plans Quarterly Dividend of $0.13 (NASDAQ:ONB)

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The firm is scheduled to report its next quarterly earnings results on Wednesday, October 18th. Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $13.00 price objective on shares of Valley National Bancorp in a research report on Monday, April 3rd. For the next year, analysts anticipate that the company will post earnings of $1.11 per share, with EPS estimates ranging from $1.08 to $1.18.

05/03/2015 - Old National Bancorp was downgraded to "sell" by analysts at Zacks. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.90 per share. On the other side, analysts now consider Valley National Bancorp a neutral, and a technical analysis of the stock is setting somewhat neutral outlook for now. ValuEngine upgraded shares of Valley National Bancorp from a "hold" rating to a "buy" rating in a report on Tuesday, June 6th. It seems that Valley National Bancorp (NYSE:VLY) might see muted action given an ABR of 2.3 or Hold rating. Old National Bancorp presently has an average rating of "Hold" and an average target price of $17.00.

A number of hedge funds have recently bought and sold shares of the stock.

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Shares of Old National Bancorp (NASDAQ ONB) traded down 0.61% on Friday, reaching $16.20. As concerns shares volumes, in share Capital Company has 91.25 million outstanding shares among them 89.13 million shares have been floated in market exchange. The stock touched 52-week High of $12.82 on 03/01/17 and 52-week Low of $8.90 on 08/02/16. The firm has a market capitalization of $2.21 billion, a P/E ratio of 15.13 and a beta of 1.11.

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It is trading at $16.20 just a bit lower than $17.06, the stock's 50 day moving average and slightly below the 200 day moving average of $17.24. Shareholders of record on Friday, September 1st will be paid a dividend of 0.13 per share by the bank on Friday, September 15th. BidaskClub upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, June 13th.

In other news, insider John R. Kamin sold 7,332 shares of the stock in a transaction on Monday, July 17th. Shares were disposed in a price range of $6.11, amounting to $642,704.79. after the closing of the transaction the director has an ownership of 217,829 company stock worth at $1,330,935.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Accern also gave news stories about the financial services provider an impact score of 84 out of 100, meaning that recent press coverage is very likely to have an impact on the stock's share price in the near term. The shares were acquired at an average cost of $16.70 per share, with a total value of $36,740.00. The disclosure for this sale can be found here. Dimensional Fund Advisors LP now owns 10,750,699 shares of the bank's stock valued at $186,525,000 after buying an additional 429,008 shares during the last quarter.

Hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in Central Valley Community Bancorp by 7.0% in the first quarter. Teachers Advisors LLC now owns 439,942 shares of the financial services provider's stock worth $5,121,000 after buying an additional 9,760 shares in the last quarter. Norges Bank bought a new position in Old National Bancorp during the fourth quarter valued at approximately $30,245,000. Russell Investments Group, Ltd. now owns 142,002 shares worth $1,677,000. Alliancebernstein L.P. now owns 522,944 shares of the financial services provider's stock worth $6,171,000 after buying an additional 132,790 shares in the last quarter. Prudential Financial Inc. now owns 330,094 shares of the financial services provider's stock worth $3,895,000 after buying an additional 172,120 shares in the last quarter. Its Price to Cash Flow ratio shows the value of 15.71, whereas, the industry and sector ratio of Price to Cash Flow ticked at 18 and 24.45 respectively.

Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investments and brokerage services. The Company's principal business is to provide, through its banking subsidiary, financial services in its primary market area in California.

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