Private Management Group Inc. Trims Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Private Management Group Inc. trimmed its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 18.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,435,864 shares of the bank's stock after selling 325,125 shares during the period. Private Management Group Inc. owned approximately 0.45% of Old National Bancorp worth $26,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC boosted its position in shares of Old National Bancorp by 0.7% in the third quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after acquiring an additional 591 shares during the period. Forum Financial Management LP boosted its holdings in Old National Bancorp by 3.9% in the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank's stock valued at $346,000 after purchasing an additional 748 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Old National Bancorp by 1.0% in 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 position in shares of Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Old National Bancorp by 0.3% in the first quarter. Retirement Systems of Alabama now owns 367,501 shares of the bank's stock worth $6,398,000 after purchasing an additional 1,009 shares during the period. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Trading Down 0.7 %

Shares of NASDAQ:ONB traded down $0.14 during trading on Friday, reaching $19.12. 2,530,313 shares of the company traded hands, compared to its average volume of 1,885,799. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 52-week low of $13.66 and a 52-week high of $20.43. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.59 and a beta of 0.82. The business's fifty day moving average is $18.89 and its 200-day moving average is $17.96.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 net margin of 17.93% and a return on equity of 10.10%. The company's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. As a group, analysts forecast that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.93%. Old National Bancorp's dividend payout ratio is presently 33.94%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Barclays lifted their price target on Old National Bancorp from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada increased their price target 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's stock. According to data from MarketBeat, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $20.43.

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.