OLD National Bancorp IN Sells 84,957 Shares of Old National Bancorp (NASDAQ:ONB)

OLD National Bancorp IN decreased its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,533,106 shares of the bank's stock after selling 84,957 shares during the quarter. Old National Bancorp accounts for approximately 0.8% of OLD National Bancorp IN's investment portfolio, making the stock its 22nd largest position. OLD National Bancorp IN owned 0.48% of Old National Bancorp worth $33,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Studio Investment Management LLC boosted its position in Old National Bancorp by 2.6% during the 3rd quarter. Studio Investment Management LLC now owns 20,803 shares of the bank's stock worth $388,000 after buying an additional 524 shares during the period. CWM LLC grew its stake 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 worth $1,630,000 after purchasing an additional 591 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after purchasing an additional 615 shares during the last quarter. Stifel Financial Corp increased its holdings in Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank's stock valued at $1,000,000 after purchasing an additional 648 shares during the period. Finally, UMB Bank n.a. raised its position in Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ONB shares. Keefe, Bruyette & Woods increased their price target on Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a report on Tuesday, November 26th. StockNews.com cut Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays raised their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Finally, Stephens reiterated an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.29.

Old National Bancorp Stock Performance

NASDAQ ONB traded down $0.37 during trading hours on Monday, reaching $23.49. 1,800,911 shares of the company were exchanged, compared to its average volume of 3,561,264. The business's 50 day simple moving average is $22.43 and its 200-day simple moving average is $20.40. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. Old National Bancorp has a 1 year low of $15.36 and a 1 year high of $24.17. The stock has a market capitalization of $7.49 billion, a P/E ratio of 14.00 and a beta of 0.88.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, equities research analysts expect that Old National Bancorp will post 2.05 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Thursday, December 5th. Old National Bancorp's dividend payout ratio is presently 33.33%.

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.