Old National Bancorp $ONB Shares Sold by Accredited Investors Inc.

Accredited Investors Inc. cut its holdings in Old National Bancorp (NASDAQ:ONB) by 18.6% during the 4th quarter, Holdings Channel reports. The firm owned 366,545 shares of the bank’s stock after selling 83,495 shares during the period. Accredited Investors Inc.’s holdings in Old National Bancorp were worth $8,178,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MAI Capital Management grew its position in shares of Old National Bancorp by 156.8% in the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after purchasing an additional 704 shares during the last quarter. Covestor Ltd grew its position in shares of Old National Bancorp by 157.0% in the third quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after purchasing an additional 755 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at approximately $28,000. Rothschild Investment LLC grew its position in shares of Old National Bancorp by 72.3% in the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Old National Bancorp by 811.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,428 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $23.29 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89. The company has a market cap of $9.00 billion, a P/E ratio of 12.01 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17. The firm’s 50 day moving average is $22.87 and its two-hundred day moving average is $22.85.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $702.70 million for the quarter, compared to the consensus estimate of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. Old National Bancorp’s revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. Analysts expect that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.5%. Old National Bancorp’s dividend payout ratio (DPR) is currently 29.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Cowen upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $27.00 to $30.00 in a research report on Thursday, January 22nd. UBS Group reiterated a “neutral” rating and issued a $26.00 price target on shares of Old National Bancorp in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods upped their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Barclays upped their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Finally, Stephens upped their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and a consensus price target of $27.91.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.