Nicholas Chulos Sells 20,000 Shares of Old National Bancorp (NASDAQ:ONB) Stock

Old National Bancorp (NASDAQ:ONB) insider Nicholas Chulos sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider directly owned 53,544 shares in the company, valued at $1,427,483.04. This trade represents a 27.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $26.41 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.90. Old National Bancorp has a one year low of $19.39 and a one year high of $27.32. The company has a fifty day moving average price of $25.37 and a 200 day moving average price of $24.14. The stock has a market cap of $10.20 billion, a P/E ratio of 11.74 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Old National Bancorp had a net margin of 21.60% and a return on equity of 16.16%. The company had revenue of $732.55 million for the quarter, compared to analyst estimates of $716.25 million. During the same period last year, the business posted $0.53 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. Analysts anticipate that Old National Bancorp will post 2.6 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 25.78%.

Analysts Set New Price Targets

Several research firms have commented on ONB. Truist Financial upped their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Barclays boosted their price objective on Old National Bancorp from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. UBS Group assumed coverage on Old National Bancorp in a research report on Tuesday, July 7th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Raymond James Financial assumed coverage on shares of Old National Bancorp in a research note on Tuesday, July 7th. They set a “market perform” rating on the stock. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $29.36.

Institutional Investors Weigh In On Old National Bancorp

Several large investors have recently modified their holdings of ONB. Royal Bank of Canada lifted its position in shares of Old National Bancorp by 2.0% during the 1st quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock worth $4,536,000 after buying an additional 4,153 shares during the period. Jones Financial Companies Lllp grew its position in Old National Bancorp by 87.8% in the first quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after acquiring an additional 5,936 shares during the period. Goldman Sachs Group Inc. raised its stake in Old National Bancorp by 8.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock worth $60,263,000 after acquiring an additional 215,203 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Old National Bancorp by 7.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock worth $19,349,000 after acquiring an additional 64,110 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Old National Bancorp by 6.1% during the second quarter. Russell Investments Group Ltd. now owns 53,853 shares of the bank’s stock valued at $1,149,000 after acquiring an additional 3,091 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Company 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.