Old National Bancorp (NASDAQ:ONB) Holdings Trimmed by Diversified Trust Co

by · The Markets Daily

Diversified Trust Co cut its holdings in Old National Bancorp (NASDAQ:ONB – Free Report) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,377 shares of the bank’s stock after selling 830 shares during the quarter. Diversified Trust Co’s holdings in Old National Bancorp were worth $455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Old National Bancorp by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after purchasing an additional 1,896,748 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Old National Bancorp by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock valued at $242,795,000 after acquiring an additional 441,887 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Old National Bancorp by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock worth $60,923,000 after acquiring an additional 203,088 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Old National Bancorp by 0.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock worth $57,553,000 after acquiring an additional 25,519 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Old National Bancorp by 211.3% during the second quarter. Victory Capital Management Inc. now owns 2,922,022 shares of the bank’s stock worth $50,230,000 after purchasing an additional 1,983,476 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ONB. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Barclays lifted their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada upped their price target on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. One equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

Get Our Latest Report on Old National Bancorp

Old National Bancorp Stock Performance

Shares of ONB opened at $18.22 on Friday. The company has a market capitalization of $5.81 billion, a PE ratio of 9.85 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The company’s 50 day moving average price is $18.63 and its 200 day moving average price is $17.68. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $20.43.

Old National Bancorp (NASDAQ:ONB – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. The business had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. During the same period in the previous year, the company posted $0.54 EPS. Research analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Old National Bancorp Company Profile

(Free Report)

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.

Further Reading

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