Old National Bancorp (NASDAQ:ONB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,764 shares of the bank's stock after selling 164,175 shares during the period. Russell Investments Group Ltd.'s holdings in Old National Bancorp were worth $2,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ONB. Lee Danner & Bass Inc. purchased a new position in shares of Old National Bancorp during the 4th quarter valued at about $25,000. Empowered Funds LLC acquired a new stake in Old National Bancorp in the fourth quarter valued at approximately $28,000. Versant Capital Management Inc raised its stake in shares of Old National Bancorp by 58.4% during the 4th 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 period. UMB Bank n.a. lifted its position in shares of Old National Bancorp by 58.9% during the 4th 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 in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on ONB. Barclays cut their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Stephens restated an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Raymond James decreased their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.71.

Old National Bancorp Stock Up 4.3 %

NASDAQ:ONB traded up $0.85 during mid-day trading on Wednesday, hitting $20.78. The stock had a trading volume of 796,726 shares, compared to its average volume of 2,448,020. Old National Bancorp has a twelve month low of $15.60 and a twelve month high of $24.49. The stock has a 50-day simple moving average of $21.09 and a two-hundred day simple moving average of $21.46. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $6.63 billion, a PE ratio of 12.37 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The company had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. On average, equities research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.69%. Old National Bancorp's dividend payout ratio is presently 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.