Accredited Investors Inc. Lowers Stock Position in Old National Bancorp (NASDAQ:ONB)

Accredited Investors Inc. lessened its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,002 shares of the bank's stock after selling 15,404 shares during the period. Accredited Investors Inc. owned 0.09% of Old National Bancorp worth $6,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at about $25,000. Empowered Funds LLC bought a new stake in Old National Bancorp during the 4th quarter valued at $28,000. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp in the 4th quarter worth about $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ONB. Raymond James dropped their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Stephens restated an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday. Barclays decreased their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $25.71.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB traded up $0.51 during trading on Tuesday, hitting $19.53. 1,053,464 shares of the company were exchanged, compared to its average volume of 3,075,008. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49. The stock has a 50 day moving average of $21.64 and a 200 day moving average of $21.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $6.23 billion, a PE ratio of 11.63 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the company posted $0.46 earnings per share. As a group, equities research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.87%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp's payout ratio is 33.33%.

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.