Chartwell Investment Partners LLC cut its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 600,675 shares of the bank's stock after selling 63,885 shares during the period. Chartwell Investment Partners LLC owned about 0.19% of Old National Bancorp worth $11,208,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ONB. GAMMA Investing LLC lifted its position 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 in the last quarter. International Assets Investment Management LLC increased its position in shares of Old National Bancorp by 1,766.7% during the 3rd 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 in the last quarter. HHM Wealth Advisors LLC bought a new position in Old National Bancorp in the second quarter valued at approximately $28,000. LRI Investments LLC acquired a new position in shares of Old National Bancorp during the first quarter worth about $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Old National Bancorp in the 2nd quarter valued at $103,000. Institutional investors and hedge funds own 83.66% of the company's stock.
Analysts Set New Price Targets
ONB has been the subject of several analyst reports. Royal Bank of Canada raised 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 note on Wednesday, July 24th. StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, October 1st. Finally, Barclays increased their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.43.
Get Our Latest Stock Report on ONB
Old National Bancorp Stock Performance
Shares of ONB stock traded up $0.64 during trading on Monday, reaching $22.49. 1,097,531 shares of the company's stock were exchanged, compared to its average volume of 2,054,297. Old National Bancorp has a twelve month low of $13.74 and a twelve month high of $22.67. The stock has a market capitalization of $7.17 billion, a PE ratio of 13.24 and a beta of 0.82. The firm's fifty day moving average price is $19.00 and its 200-day moving average price is $18.15. 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 posted its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting analysts' consensus estimates of $0.46. The company 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 firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts anticipate that Old National Bancorp will post 1.84 EPS for the current year.
Old National Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, September 5th. Old National Bancorp's payout ratio is presently 33.94%.
Old National Bancorp Profile
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Free Report)
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.
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