Providence Wealth Advisors LLC Sells 22,715 Shares of Old National Bancorp (NASDAQ:ONB)

Providence Wealth Advisors LLC trimmed its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,442 shares of the bank's stock after selling 22,715 shares during the period. Old National Bancorp accounts for approximately 2.4% of Providence Wealth Advisors LLC's investment portfolio, making the stock its 11th biggest position. Providence Wealth Advisors LLC's holdings in Old National Bancorp were worth $3,105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new position in shares of Old National Bancorp during the 4th quarter worth approximately $25,000. Empowered Funds LLC bought a new position in Old National Bancorp during the fourth quarter worth $28,000. Versant Capital Management Inc increased its holdings 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 valued at $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. raised its position in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after purchasing an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp during the 4th quarter worth about $65,000. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded up $0.03 during trading on Monday, reaching $21.06. 359,064 shares of the company traded hands, compared to its average volume of 2,394,930. The firm has a market capitalization of $6.72 billion, a PE ratio of 12.55 and a beta of 0.85. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company's 50 day moving average is $22.76 and its two-hundred day moving average is $21.41.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data 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 net margin of 18.24% and a return on equity of 10.13%. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.66%. Old National Bancorp's dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Raymond James reiterated a "strong-buy" rating and issued a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Stephens reaffirmed an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Barclays increased their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.29.

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.