State of New Jersey Common Pension Fund D Sells 14,194 Shares of Old National Bancorp (NASDAQ:ONB)

State of New Jersey Common Pension Fund D lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 12.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 102,036 shares of the bank’s stock after selling 14,194 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Old National Bancorp were worth $1,904,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position 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 worth $26,000 after purchasing an additional 1,325 shares during the last quarter. GAMMA Investing LLC increased its position in Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Old National Bancorp in the second quarter worth $28,000. LRI Investments LLC bought a new stake in Old National Bancorp in the first quarter worth $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Old National Bancorp in the second quarter worth $103,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the topic of a number of analyst reports. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Barclays upped their price target 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 upped their price target on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.43.

Old National Bancorp Trading Down 2.6 %

NASDAQ ONB opened at $21.23 on Monday. Old National Bancorp has a 12 month low of $14.32 and a 12 month high of $22.75. The company’s 50-day moving average price is $19.28 and its 200-day moving average price is $18.34. The stock has a market cap of $6.77 billion, a PE ratio of 12.87 and a beta of 0.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting 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 company had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Old National Bancorp will post 1.84 earnings per share 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. Investors of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 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.