Old National Bancorp (NASDAQ:ONB) Shares Sold by Accredited Investors Inc.

Accredited Investors Inc. trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 278,002 shares of the bank’s stock after selling 15,404 shares during the period. Accredited Investors Inc. owned about 0.09% of Old National Bancorp worth $6,034,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ONB. Sanctuary Advisors LLC lifted its holdings in shares of Old National Bancorp by 1.4% during the 4th quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock worth $762,000 after acquiring an additional 432 shares during the period. Versant Capital Management Inc raised its position in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after purchasing an additional 615 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Old National Bancorp by 3.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock worth $356,000 after purchasing an additional 615 shares during the period. Stifel Financial Corp boosted its holdings in Old National Bancorp by 1.2% during the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after purchasing an additional 648 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $19.21 on Thursday. The company has a market capitalization of $6.13 billion, a P/E ratio of 11.43 and a beta of 0.82. 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 has a 1 year low of $15.38 and a 1 year high of $24.49. The business has a fifty day simple moving average of $21.95 and a two-hundred day simple moving average of $21.41.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS 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 in the prior year, the business earned $0.46 EPS. On average, analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.33%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James decreased their price objective on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 2nd. Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Barclays reduced their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.71.

Old National Bancorp 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.