Equitable Trust Co. Reduces Position in Old National Bancorp (NASDAQ:ONB)

Equitable Trust Co. lessened its stake in shares of Old National Bancorp (NASDAQ:ONB) by 42.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 249,403 shares of the bank’s stock after selling 185,904 shares during the period. Equitable Trust Co.’s holdings in Old National Bancorp were worth $5,413,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ONB. International Assets Investment Management LLC lifted its stake in shares of Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,325 shares during the period. Empowered Funds LLC acquired a new position in Old National Bancorp during the fourth quarter worth $28,000. Versant Capital Management Inc raised its position in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after acquiring an additional 615 shares during the period. UMB Bank n.a. grew its holdings in shares of Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Old National Bancorp by 156.8% during the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after buying an additional 2,385 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ONB. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Barclays upped their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Raymond James reissued a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

Old National Bancorp Trading Down 0.6 %

NASDAQ ONB opened at $24.31 on Monday. The stock has a market capitalization of $7.75 billion, a P/E ratio of 14.47 and a beta of 0.88. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $24.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. The firm’s 50-day moving average is $22.53 and its two-hundred day moving average is $20.55.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly 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 net margin of 18.24% and a return on equity of 14.32%. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.56 annualized dividend and a yield of 2.30%. Old National Bancorp’s dividend payout ratio (DPR) is 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.