Mount Yale Investment Advisors LLC Cuts Stake in Old National Bancorp (NASDAQ:ONB)

Mount Yale Investment Advisors LLC lessened its stake in Old National Bancorp (NASDAQ:ONB) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,900 shares of the bank’s stock after selling 3,900 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Old National Bancorp were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ONB. Victory Capital Management Inc. raised its holdings in Old National Bancorp by 147.3% in the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after buying an additional 4,303,071 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Old National Bancorp by 469.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock worth $19,400,000 after acquiring an additional 857,158 shares during the last quarter. Geode Capital Management LLC lifted its position in Old National Bancorp by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after acquiring an additional 514,315 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Old National Bancorp during the 3rd quarter valued at $8,093,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Old National Bancorp by 13.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock worth $65,275,000 after purchasing an additional 416,647 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Raymond James reaffirmed a “strong-buy” rating and set a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Trading Up 0.5 %

Shares of ONB stock opened at $23.58 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a fifty day simple moving average of $22.29 and a two-hundred day simple moving average of $20.31. The firm has a market capitalization of $7.52 billion, a PE ratio of 14.04 and a beta of 0.87. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $24.17.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, analysts predict that Old National Bancorp will post 2.03 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were issued a $0.14 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.37%. Old National Bancorp’s dividend payout ratio is currently 33.33%.

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.