Old National Bancorp (NASDAQ:ONB) Shares Sold by FJ Capital Management LLC

FJ Capital Management LLC lowered its holdings in Old National Bancorp (NASDAQ:ONB) by 77.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,190 shares of the bank’s stock after selling 424,769 shares during the period. FJ Capital Management LLC’s holdings in Old National Bancorp were worth $2,652,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Sanctuary Advisors LLC raised its position in 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 period. Mariner LLC grew its stake in shares of Old National Bancorp by 0.9% in the fourth quarter. Mariner LLC now owns 57,744 shares of the bank’s stock valued at $1,253,000 after buying an additional 509 shares in the last quarter. Covestor Ltd raised its holdings in shares of Old National Bancorp by 13.6% during the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank’s stock valued at $95,000 after buying an additional 524 shares during the period. CIBC Private Wealth Group LLC lifted its position in Old National Bancorp by 3.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock worth $356,000 after acquiring an additional 615 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in 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 acquiring an additional 663 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their price objective on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Stephens reaffirmed an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. StockNews.com raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 23rd. Finally, Raymond James dropped their price objective on 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.63.

Old National Bancorp Price Performance

Shares of ONB opened at $21.56 on Friday. 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 company has a market cap of $6.89 billion, a P/E ratio of 12.83 and a beta of 0.85. Old National Bancorp has a 12 month low of $15.60 and a 12 month high of $24.49. The stock has a fifty day moving average price of $20.44 and a 200 day moving average price of $21.62.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The firm had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. On average, research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is currently 32.56%.

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.