Thrivent Financial for Lutherans Reduces Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Thrivent Financial for Lutherans lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 717,140 shares of the bank’s stock after selling 43,094 shares during the period. Thrivent Financial for Lutherans owned approximately 0.22% of Old National Bancorp worth $13,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONB. GAMMA Investing LLC lifted its holdings in Old National Bancorp by 194.8% during the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,005 shares in the last quarter. International Assets Investment Management LLC lifted its stake in 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 buying an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in Old National Bancorp in the 2nd quarter worth about $28,000. LRI Investments LLC purchased a new stake in Old National Bancorp during the 1st quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Old National Bancorp during the second quarter valued at approximately $103,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Up 1.2 %

ONB stock opened at $21.18 on Friday. Old National Bancorp has a one year low of $14.32 and a one year high of $22.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day moving average of $19.49 and a 200-day moving average of $18.44. The stock has a market capitalization of $6.75 billion, a PE ratio of 12.83 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. Old National Bancorp’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. Old National Bancorp’s dividend payout ratio (DPR) is 33.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ONB shares. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Barclays upped their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One equities 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 stock. According to MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average 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.