Blue Trust Inc. Sells 11,098 Shares of Old National Bancorp (NASDAQ:ONB)

Blue Trust Inc. lowered its holdings in Old National Bancorp (NASDAQ:ONB) by 48.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,731 shares of the bank’s stock after selling 11,098 shares during the quarter. Blue Trust Inc.’s holdings in Old National Bancorp were worth $202,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Leuthold Group LLC bought a new stake in shares of Old National Bancorp during the first quarter valued at approximately $3,142,000. Wealth Enhancement Advisory Services LLC boosted its position in Old National Bancorp by 188.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock valued at $885,000 after buying an additional 33,615 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Old National Bancorp by 35.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock valued at $1,969,000 after buying an additional 29,400 shares during the period. First Eagle Investment Management LLC raised its position in shares of Old National Bancorp by 27.9% during the first quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock worth $7,777,000 after acquiring an additional 97,350 shares during the last quarter. Finally, Busey Bank lifted its stake in shares of Old National Bancorp by 41.6% during the second quarter. Busey Bank now owns 38,519 shares of the bank’s stock valued at $662,000 after acquiring an additional 11,316 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Barclays boosted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.88.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $18.71 on Friday. The firm’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $17.86. Old National Bancorp has a fifty-two week low of $13.33 and a fifty-two week high of $20.43. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 10.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $485.86 million during the quarter, compared to the consensus estimate of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 14.38%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 annualized dividend and a yield of 2.99%. Old National Bancorp’s dividend payout ratio is presently 30.27%.

About Old National Bancorp

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.