35,000 Shares in Old National Bancorp (NASDAQ:ONB) Bought by Carret Asset Management LLC

Carret Asset Management LLC bought a new position in Old National Bancorp (NASDAQ:ONB) in the 1st quarter, Holdings Channel.com reports. The fund bought 35,000 shares of the bank’s stock, valued at approximately $609,000.

Several other hedge funds also recently bought and sold shares of ONB. Rise Advisors LLC bought a new position in Old National Bancorp in the 1st quarter worth $28,000. Parkside Financial Bank & Trust boosted its holdings in Old National Bancorp by 24.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock worth $55,000 after buying an additional 650 shares during the period. Quadrant Capital Group LLC boosted its holdings in Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after buying an additional 1,020 shares during the period. Legacy Wealth Asset Management LLC bought a new position in Old National Bancorp in the 4th quarter worth $181,000. Finally, Trust Point Inc. purchased a new stake in Old National Bancorp in the 4th quarter worth $189,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO Brendon B. Falconer sold 49,375 shares of the 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 sale, the chief financial officer now 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 is available at this hyperlink. In related news, CEO Chady M. Alahmar sold 17,165 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 of the company’s stock, valued at $795,015.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brendon B. Falconer sold 49,375 shares of the 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 sale, the chief financial officer now directly owns 88,712 shares of the company’s stock, valued at approximately $1,444,231.36. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Old National Bancorp Stock Down 1.6 %

Shares of NASDAQ ONB opened at $16.99 on Thursday. The firm’s 50-day moving average price is $16.79 and its 200-day moving average price is $16.63. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 9.18 and a beta of 0.84. Old National Bancorp has a 12-month low of $12.36 and a 12-month high of $17.82.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. On average, equities research analysts anticipate that Old National Bancorp will post 1.82 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Wednesday, June 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.30%. Old National Bancorp’s dividend payout ratio is currently 30.27%.

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.