Old National Bancorp (NASDAQ:ONB) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Old National Bancorp (NASDAQ:ONB) by 29.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,144 shares of the bank’s stock after selling 23,640 shares during the period. Nisa Investment Advisors LLC’s holdings in Old National Bancorp were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ONB. GAMMA Investing LLC boosted its holdings in shares of Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,005 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Old National Bancorp by 1,766.7% in the third 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 last quarter. HHM Wealth Advisors LLC acquired a new stake in Old National Bancorp during the 2nd quarter worth about $28,000. LRI Investments LLC purchased a new position in shares of Old National Bancorp during the 1st quarter valued at about $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Old National Bancorp in the 2nd quarter valued at about $103,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Down 0.7 %

Old National Bancorp stock opened at $19.12 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $6.10 billion, a PE ratio of 11.59 and a beta of 0.82. The business has a 50 day simple moving average of $18.89 and a 200-day simple moving average of $17.98. Old National Bancorp has a 12 month low of $13.66 and a 12 month high of $20.43.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.93%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.94%.

Analyst Upgrades and Downgrades

ONB has been the topic of several analyst reports. Barclays raised their target price on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Royal Bank of Canada raised their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.43.

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.