Thrivent Financial for Lutherans Reduces Stake in Old National Bancorp (NASDAQ:ONB)

Thrivent Financial for Lutherans cut its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 445,737 shares of the bank's stock after selling 271,403 shares during the quarter. Thrivent Financial for Lutherans owned about 0.14% of Old National Bancorp worth $9,675,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ONB. Fisher Asset Management LLC raised its stake in Old National Bancorp by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank's stock worth $59,453,000 after purchasing an additional 90,747 shares during the period. Citigroup Inc. raised its position in shares of Old National Bancorp by 12.1% during the 3rd quarter. Citigroup Inc. now owns 485,023 shares of the bank's stock valued at $9,051,000 after buying an additional 52,430 shares during the period. JPMorgan Chase & Co. lifted its holdings in Old National Bancorp by 13.5% in the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank's stock valued at $65,275,000 after acquiring an additional 416,647 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Old National Bancorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank's stock worth $79,810,000 after acquiring an additional 47,149 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Old National Bancorp during the fourth quarter worth $209,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

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Old National Bancorp Stock Up 0.6 %

Shares of Old National Bancorp stock traded up $0.13 during trading hours on Wednesday, reaching $21.60. 1,778,005 shares of the company were exchanged, compared to its average volume of 2,313,517. The firm has a market cap of $6.89 billion, a PE ratio of 12.86 and a beta of 0.85. The stock's fifty day moving average is $22.84 and its 200 day moving average is $21.35. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company posted $0.46 EPS. As a group, equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.59%. Old National Bancorp's payout ratio is 33.33%.

Analyst Ratings Changes

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

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.