United Services Automobile Association Sells 944 Shares of Old National Bancorp (NASDAQ:ONB)

United Services Automobile Association trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,060 shares of the bank’s stock after selling 944 shares during the period. United Services Automobile Association’s holdings in Old National Bancorp were worth $457,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONB. Lee Danner & Bass Inc. bought a new stake in shares of Old National Bancorp during the fourth quarter worth $25,000. Empowered Funds LLC bought a new stake in Old National Bancorp during the 4th quarter worth about $28,000. Versant Capital Management Inc increased its position in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after acquiring an additional 615 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after acquiring an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp during the fourth quarter worth approximately $65,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James restated a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Stephens reiterated an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $21.51 on Tuesday. The firm’s 50 day simple moving average is $22.85 and its 200 day simple moving average is $21.33. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 12.80 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period last year, the firm earned $0.46 EPS. As a group, sell-side analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.60%. Old National Bancorp’s payout ratio is 33.33%.

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.