Valeo Financial Advisors LLC Sells 1,483 Shares of Old National Bancorp (NASDAQ:ONB)

Valeo Financial Advisors LLC lowered its stake in shares of Old National Bancorp (NASDAQ:ONB) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,295 shares of the bank’s stock after selling 1,483 shares during the period. Valeo Financial Advisors LLC’s holdings in Old National Bancorp were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Leuthold Group LLC acquired a new stake in shares of Old National Bancorp in the 1st quarter worth $3,142,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Old National Bancorp by 188.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock valued at $885,000 after buying an additional 33,615 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Old National Bancorp by 35.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock valued at $1,969,000 after buying an additional 29,400 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Old National Bancorp by 27.9% in the first quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock worth $7,777,000 after buying an additional 97,350 shares during the last quarter. Finally, Busey Bank boosted its stake in shares of Old National Bancorp by 41.6% in the second quarter. Busey Bank now owns 38,519 shares of the bank’s stock worth $662,000 after buying an additional 11,316 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Up 0.7 %

Shares of NASDAQ:ONB opened at $18.87 on Tuesday. The business has a 50-day moving average price of $18.65 and a 200 day moving average price of $17.71. Old National Bancorp has a 12-month low of $12.36 and a 12-month high of $20.43. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 10.20 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. The company had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts expect that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is currently 30.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ONB shares. Barclays lifted their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Royal Bank of Canada raised their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Insiders Place Their Bets

In other news, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the sale, the chief executive officer now directly owns 287,409 shares in the company, valued at approximately $5,730,935.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value 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 approximately $2,335,868.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the sale, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at $5,730,935.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

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.