Leeward Investments LLC MA Sells 44,605 Shares of Old National Bancorp (NASDAQ:ONB)

Leeward Investments LLC MA decreased its position in Old National Bancorp (NASDAQ:ONB) by 4.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,058,123 shares of the bank’s stock after selling 44,605 shares during the period. Leeward Investments LLC MA owned about 0.36% of Old National Bancorp worth $18,422,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in Old National Bancorp by 5.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock valued at $227,000 after purchasing an additional 876 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Old National Bancorp by 12.1% in the third quarter. Hsbc Holdings PLC now owns 21,660 shares of the bank’s stock worth $315,000 after acquiring an additional 2,331 shares during the period. Mariner LLC lifted its stake in Old National Bancorp by 15.8% in the third quarter. Mariner LLC now owns 50,672 shares of the bank’s stock worth $737,000 after acquiring an additional 6,914 shares during the period. Natixis Advisors L.P. increased its position in Old National Bancorp by 194.2% during the 3rd quarter. Natixis Advisors L.P. now owns 216,112 shares of the bank’s stock valued at $3,143,000 after purchasing an additional 142,663 shares during the period. Finally, Trexquant Investment LP purchased a new position in Old National Bancorp during the 3rd quarter valued at $685,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONB. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 9th. Hovde Group initiated coverage on Old National Bancorp in a research note on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays increased their price objective on Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Finally, StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 29th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Old National Bancorp Stock Down 1.6 %

Shares of NASDAQ:ONB traded down $0.28 on Thursday, hitting $16.99. 911,557 shares of the company traded hands, compared to its average volume of 1,753,592. The stock has a 50 day simple moving average of $16.80 and a 200-day simple moving average of $16.63. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.42 billion, a PE ratio of 9.18 and a beta of 0.84. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $17.82.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. Old National Bancorp’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. As a group, research analysts expect that Old National Bancorp will post 1.82 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Wednesday, June 5th were given a $0.14 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 3.30%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Insider Activity at Old National Bancorp

In other news, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total value of $803,825.00. Following the completion of the transaction, the chief financial officer now owns 88,712 shares in the company, valued at $1,444,231.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the completion of the transaction, the chief financial officer now directly owns 88,712 shares of the company’s stock, valued at $1,444,231.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total transaction of $272,923.50. Following the completion of the sale, the chief executive officer now owns 50,001 shares in the company, valued at approximately $795,015.90. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

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.