EMC Capital Management Decreases Stock Holdings in Old National Bancorp (NASDAQ:ONB)

EMC Capital Management lowered its position in shares of Old National Bancorp (NASDAQ:ONB) by 59.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,152 shares of the bank’s stock after selling 13,293 shares during the period. EMC Capital Management’s holdings in Old National Bancorp were worth $170,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $26,000 after buying an additional 1,005 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Old National Bancorp in the 2nd quarter worth approximately $28,000. LRI Investments LLC purchased a new position in shares of Old National Bancorp during the first quarter valued at approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Old National Bancorp during the second quarter valued at approximately $103,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ONB shares. Barclays lifted their target price on shares of 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 lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upped 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 research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $19.12 on Friday. Old National Bancorp has a 1-year low of $13.66 and a 1-year high of $20.43. The business has a fifty day moving average price of $18.89 and a 200-day moving average price of $17.96. The company has a market capitalization of $6.10 billion, a PE ratio of 11.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 14.38% and a net margin of 17.93%. The business had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. During the same period last year, the business posted $0.51 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is currently 33.94%.

Old National Bancorp Company Profile

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.