Wellington Management Group LLP Sells 19,930 Shares of Old National Bancorp (NASDAQ:ONB)

Wellington Management Group LLP lessened its stake in Old National Bancorp (NASDAQ:ONB) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,498,402 shares of the bank’s stock after selling 19,930 shares during the quarter. Wellington Management Group LLP’s holdings in Old National Bancorp were worth $25,308,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of Old National Bancorp by 57.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock worth $38,000 after purchasing an additional 949 shares during the period. Quadrant Capital Group LLC raised its holdings in Old National Bancorp by 14.5% during the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,020 shares during the period. Legacy Wealth Asset Management LLC bought a new stake in Old National Bancorp during the 4th quarter valued at $181,000. Trust Point Inc. bought a new stake in Old National Bancorp during the 4th quarter valued at $189,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Old National Bancorp during the 4th quarter valued at $192,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

ONB has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a report on Tuesday, April 9th. Hovde Group initiated coverage on shares of Old National Bancorp in a report on Monday, June 3rd. They set an “outperform” rating and a $20.00 target price on the stock. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Friday. Barclays boosted their price target on shares of Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday. Finally, 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. 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 company. According to MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $19.13.

Old National Bancorp Stock Up 1.9 %

Shares of NASDAQ:ONB opened at $16.80 on Tuesday. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $17.82. The firm has a fifty day moving average of $16.67 and a 200 day moving average of $16.61. The firm has a market capitalization of $5.36 billion, a PE ratio of 9.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The company had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, research analysts anticipate 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, 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 3.33%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Insider Buying and Selling

In other Old National Bancorp news, CEO Chady M. Alahmar sold 17,165 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total value of $272,923.50. Following the completion of the sale, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at $795,015.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Old National Bancorp news, CEO Chady M. Alahmar sold 17,165 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total value of $272,923.50. Following the completion of the sale, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at $795,015.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $803,825.00. Following the completion of the sale, the chief financial officer now directly owns 88,712 shares of the company’s stock, valued at $1,444,231.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by company 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.