Foundry Partners LLC Cuts Holdings in Old National Bancorp (NASDAQ:ONB)

Foundry Partners LLC lessened its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 93.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,251 shares of the bank's stock after selling 393,869 shares during the quarter. Foundry Partners LLC's holdings in Old National Bancorp were worth $546,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Old National Bancorp by 194.8% in 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 last quarter. International Assets Investment Management LLC raised its stake in shares of Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock worth $26,000 after purchasing an additional 1,325 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Old National Bancorp in the second quarter worth about $28,000. LRI Investments LLC purchased a new position in shares of Old National Bancorp in the first quarter worth about $48,000. Finally, Quest Partners LLC purchased a new position in shares of Old National Bancorp in the third quarter worth about $91,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ONB shares. StockNews.com cut Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Barclays raised their price objective on Old National Bancorp from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.43.

Old National Bancorp Trading Up 2.3 %

NASDAQ:ONB traded up $0.49 on Friday, reaching $21.65. The company's stock had a trading volume of 2,337,547 shares, compared to its average volume of 2,556,073. Old National Bancorp has a 12-month low of $14.32 and a 12-month high of $22.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 13.12 and a beta of 0.82. The stock has a 50 day moving average price of $19.55 and a 200 day moving average price of $18.47.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts anticipate that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. Old National Bancorp's dividend payout ratio is currently 33.94%.

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.