US Bancorp DE Sells 3,075 Shares of Old National Bancorp (NASDAQ:ONB)

US Bancorp DE lowered its position in Old National Bancorp (NASDAQ:ONB) by 3.9% 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 76,205 shares of the bank’s stock after selling 3,075 shares during the period. US Bancorp DE’s holdings in Old National Bancorp were worth $1,422,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Old National Bancorp by 211.3% in 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Old National Bancorp by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after buying an additional 1,896,748 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Old National Bancorp by 6,650.2% in the second quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock valued at $21,931,000 after buying an additional 1,256,892 shares during the period. Equitable Trust Co. purchased a new position in shares of Old National Bancorp during the 2nd quarter valued at $8,681,000. Finally, American Century Companies Inc. grew its stake in shares of Old National Bancorp by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock worth $242,795,000 after acquiring an additional 441,887 shares during the period. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Barclays raised their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada boosted their target price on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $21.51 on Friday. Old National Bancorp has a 1 year low of $13.67 and a 1 year high of $22.19. The stock has a market capitalization of $6.86 billion, a P/E ratio of 13.04 and a beta of 0.82. The company’s 50-day moving average is $18.96 and its 200 day moving average is $18.09. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm had revenue of $485.86 million for the quarter, compared to analysts’ expectations of $482.20 million. During the same quarter in the previous year, the business posted $0.51 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is 33.94%.

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.