Equitable Trust Co. Has $8.12 Million Stake in Old National Bancorp (NASDAQ:ONB)

Equitable Trust Co. trimmed its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 13.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,307 shares of the bank's stock after selling 69,690 shares during the period. Equitable Trust Co. owned 0.14% of Old National Bancorp worth $8,123,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ONB. CWM LLC grew its holdings in Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after purchasing an additional 591 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Old National Bancorp by 3.9% during the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank's stock worth $346,000 after purchasing an additional 748 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in 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 during the period. GAMMA Investing LLC grew its holdings 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 during the last quarter. Finally, Studio Investment Management LLC increased its position in Old National Bancorp by 5.7% in the 2nd quarter. Studio Investment Management LLC now owns 20,279 shares of the bank's stock worth $349,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Price Performance

ONB traded up $0.34 during midday trading on Friday, reaching $21.85. 2,461,852 shares of the company's stock were exchanged, compared to its average volume of 2,380,263. Old National Bancorp has a one year low of $13.67 and a one year high of $22.19. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 13.24 and a beta of 0.82. The business has a 50-day simple moving average of $19.00 and a two-hundred day simple moving average of $18.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, research analysts predict that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp's payout ratio is 33.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ONB. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Barclays boosted their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Finally, Royal Bank of Canada upped their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.43.

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.