Bfsg LLC Sells 915 Shares of Old National Bancorp (NASDAQ:ONB)

Bfsg LLC lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 7.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,795 shares of the bank’s stock after selling 915 shares during the period. Bfsg LLC’s holdings in Old National Bancorp were worth $220,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,005 shares during the period. Rise Advisors LLC bought a new stake in Old National Bancorp in the first quarter worth approximately $28,000. HHM Wealth Advisors LLC bought a new position in Old National Bancorp during the second quarter worth $28,000. LRI Investments LLC acquired a new position in shares of Old National Bancorp during the first quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Old National Bancorp in the 2nd quarter valued at about $103,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Old National Bancorp Stock Performance

Shares of ONB stock opened at $19.68 on Friday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 10.64 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $18.75 and a 200-day simple moving average of $17.75. Old National Bancorp has a 12-month low of $12.36 and a 12-month high of $20.43.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $750.93 million during the quarter, compared to analyst estimates of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities analysts forecast that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.85%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s payout ratio is currently 30.27%.

Insider Activity

In related news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the transaction, the insider now owns 117,676 shares in the company, valued at $2,335,868.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the sale, the chief executive officer now owns 287,409 shares of the company’s stock, valued at $5,730,935.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the sale, the insider now directly owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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.