Thrivent Financial for Lutherans Sells 43,094 Shares of Old National Bancorp (NASDAQ:ONB)

Thrivent Financial for Lutherans decreased its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 717,140 shares of the bank's stock after selling 43,094 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.22% of Old National Bancorp worth $13,382,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Old National Bancorp by 188.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank's stock worth $885,000 after acquiring an additional 33,615 shares during the last quarter. Busey Bank raised its position in Old National Bancorp by 41.6% in the second quarter. Busey Bank now owns 38,519 shares of the bank's stock valued at $662,000 after purchasing an additional 11,316 shares during the period. Comerica Bank boosted its holdings in Old National Bancorp by 11.9% in the 1st quarter. Comerica Bank now owns 299,561 shares of the bank's stock worth $5,215,000 after acquiring an additional 31,937 shares during the period. Retirement Systems of Alabama boosted its position in Old National Bancorp by 6.1% in the 2nd quarter. Retirement Systems of Alabama now owns 389,750 shares of the bank's stock valued at $6,700,000 after buying an additional 22,249 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Old National Bancorp by 10.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 491,698 shares of the bank's stock valued at $8,452,000 after acquiring an additional 45,000 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ONB shares. StockNews.com lowered shares of Old National Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, October 1st. Barclays upped their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock 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 issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.43.

Old National Bancorp Stock Performance

Shares of NASDAQ ONB traded up $0.49 during trading hours on Friday, hitting $21.65. 2,336,421 shares of the company's stock were exchanged, compared to its average volume of 2,069,155. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The company's 50-day moving average price is $19.49 and its 200-day moving average price is $18.44. Old National Bancorp has a 1-year low of $14.32 and a 1-year high of $22.75. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 12.83 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, sell-side analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.59%. Old National Bancorp's dividend payout ratio is currently 33.94%.

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.