Leeward Investments LLC MA Trims Position in Old National Bancorp $ONB

Leeward Investments LLC MA decreased its position in Old National Bancorp (NASDAQ:ONB) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 904,960 shares of the bank’s stock after selling 24,966 shares during the quarter. Leeward Investments LLC MA owned approximately 0.23% of Old National Bancorp worth $20,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ONB. Carlson Capital L.P. increased its position in shares of Old National Bancorp by 1.1% during the 4th quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock valued at $848,000 after purchasing an additional 400 shares during the last quarter. Glenmede Investment Management LP grew its position in Old National Bancorp by 1.0% during the third quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock valued at $1,362,000 after buying an additional 625 shares during the period. Teza Capital Management LLC grew its position in Old National Bancorp by 6.8% during the second quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after buying an additional 702 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Old National Bancorp by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,863 shares of the bank’s stock valued at $376,000 after buying an additional 703 shares during the last quarter. Finally, MAI Capital Management increased its holdings in Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after buying an additional 704 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

NASDAQ ONB opened at $25.32 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $26.17. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 13.05 and a beta of 0.84. The company’s 50 day moving average is $24.03 and its two-hundred day moving average is $23.49.

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 business had revenue of $702.70 million during the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The company’s revenue was up 44.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, research analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were paid a dividend of $0.145 per share. The ex-dividend date was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.3%. Old National Bancorp’s payout ratio is 29.90%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ONB. Truist Financial increased their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods upped their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Stephens raised their target price on Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a research report on Thursday, June 4th. Finally, Jefferies Financial Group boosted their price target on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.