OLD National Bancorp IN Sells 173,137 Shares of Old National Bancorp (NASDAQ:ONB)

OLD National Bancorp IN lowered its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,618,063 shares of the bank's stock after selling 173,137 shares during the quarter. Old National Bancorp comprises about 0.7% of OLD National Bancorp IN's investment portfolio, making the stock its 25th largest position. OLD National Bancorp IN owned 0.51% of Old National Bancorp worth $30,193,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Raymond James & Associates grew its stake in shares of Old National Bancorp by 4.7% during the third quarter. Raymond James & Associates now owns 303,439 shares of the bank's stock valued at $5,662,000 after purchasing an additional 13,620 shares during the last quarter. nVerses Capital LLC acquired a new position in Old National Bancorp during the 3rd quarter worth $399,000. Creative Planning boosted its position in Old National Bancorp by 19.0% in the 3rd quarter. Creative Planning now owns 95,315 shares of the bank's stock valued at $1,779,000 after buying an additional 15,250 shares during the last quarter. CWM LLC boosted its position in Old National Bancorp by 0.7% in the 3rd quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after buying an additional 591 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Old National Bancorp by 156.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,906 shares of the bank's stock valued at $73,000 after buying an additional 2,385 shares during the period. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Trading Down 0.8 %

Old National Bancorp stock traded down $0.16 during midday trading on Friday, hitting $19.52. 2,824,263 shares of the stock were exchanged, compared to its average volume of 1,696,588. The stock has a market capitalization of $6.23 billion, a PE ratio of 11.48 and a beta of 0.83. The company has a fifty day simple moving average of $18.78 and a two-hundred day simple moving average of $17.78. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $20.43.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. The company had revenue of $750.93 million for the quarter, compared to analysts' expectations of $474.10 million. During the same period last year, the firm posted $0.54 earnings per share. Equities research analysts anticipate that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.87%. Old National Bancorp's payout ratio is 32.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ONB shares. StockNews.com cut Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Barclays lifted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada boosted 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 research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.88.

Insiders Place Their Bets

In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the firm's 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 sale, the chief executive officer now directly owns 287,409 shares in the company, valued at approximately $5,730,935.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Kendra L. Vanzo sold 20,000 shares of the business's stock in a transaction 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 approximately $2,335,868.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company's stock.

Old National Bancorp Company 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.