Blair William & Co. IL Sells 1,359 Shares of Old National Bancorp (NASDAQ:ONB)

Blair William & Co. IL trimmed its position in shares of Old National Bancorp (NASDAQ:ONB) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,080 shares of the bank’s stock after selling 1,359 shares during the quarter. Blair William & Co. IL’s holdings in Old National Bancorp were worth $637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Old National Bancorp in the 4th quarter worth about $55,808,000. Victory Capital Management Inc. increased its stake 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 valued at $50,230,000 after purchasing an additional 1,983,476 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after purchasing an additional 1,896,748 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Old National Bancorp by 48.9% in the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock worth $63,787,000 after purchasing an additional 1,240,952 shares in the last quarter. Finally, Equitable Trust Co. purchased a new stake in shares of Old National Bancorp in the 2nd quarter worth approximately $8,681,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB opened at $18.47 on Thursday. The company’s 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $17.56. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $20.43. The stock has a market capitalization of $5.89 billion, a P/E ratio of 9.98 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.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. During the same quarter last year, the company posted $0.54 earnings per share. As a group, analysts predict that Old National Bancorp will post 1.85 EPS for the current 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 $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.03%. Old National Bancorp’s dividend payout ratio (DPR) is currently 30.27%.

Analyst Ratings Changes

Several research firms have commented on ONB. Hovde Group assumed coverage on Old National Bancorp in a report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 target price on the stock. Barclays upped 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. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada upped their target price 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.63.

Insider Activity at Old National Bancorp

In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Old National Bancorp news, insider Kendra L. Vanzo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total transaction 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. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the completion of the transaction, the chief executive officer now owns 287,409 shares in the company, valued at $5,730,935.46. 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.