Geode Capital Management LLC Sells 127,704 Shares of Old National Bancorp (NASDAQ:ONB)

Geode Capital Management LLC reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,204,265 shares of the bank’s stock after selling 127,704 shares during the quarter. Geode Capital Management LLC owned approximately 2.57% of Old National Bancorp worth $178,110,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ONB. Sanctuary Advisors LLC increased its holdings in shares of Old National Bancorp by 1.4% in the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after purchasing an additional 432 shares during the last quarter. Versant Capital Management Inc grew its stake 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 buying an additional 615 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Old National Bancorp by 3.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock valued at $356,000 after acquiring an additional 615 shares during the period. Stifel Financial Corp lifted its position in Old National Bancorp by 1.2% during the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock worth $1,000,000 after acquiring an additional 648 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Old National Bancorp by 58.9% during 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 period. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

ONB stock opened at $17.97 on Monday. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 10.70 and a beta of 0.82. The company has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $21.45.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the business posted $0.46 EPS. Research analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued 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 3.12%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ONB shares. Raymond James dropped their target price on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays increased their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

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.