Old National Bancorp $ONB Shares Sold by TFC Financial Management Inc.

TFC Financial Management Inc. reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 28.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 110,400 shares of the bank’s stock after selling 43,000 shares during the period. Old National Bancorp makes up approximately 0.3% of TFC Financial Management Inc.’s portfolio, making the stock its 27th biggest holding. TFC Financial Management Inc.’s holdings in Old National Bancorp were worth $2,423,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of ONB. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Old National Bancorp by 4.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,133 shares of the bank’s stock valued at $549,000 after purchasing an additional 1,124 shares in the last quarter. Boston Partners grew its position in Old National Bancorp by 0.9% during the second quarter. Boston Partners now owns 1,895,273 shares of the bank’s stock valued at $40,307,000 after buying an additional 17,033 shares during the period. Y Intercept Hong Kong Ltd grew its position in Old National Bancorp by 863.6% during the second quarter. Y Intercept Hong Kong Ltd now owns 154,299 shares of the bank’s stock valued at $3,293,000 after buying an additional 138,287 shares during the period. Bank of New York Mellon Corp increased its holdings in Old National Bancorp by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 3,488,836 shares of the bank’s stock valued at $74,452,000 after buying an additional 93,959 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Old National Bancorp by 22.7% in the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock worth $70,000 after acquiring an additional 609 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Down 0.4%

Shares of ONB opened at $23.27 on Friday. The stock has a 50 day moving average price of $22.02 and a 200 day moving average price of $21.88. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 13.61 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a return on equity of 10.42% and a net margin of 17.39%.The company had revenue of $222.80 million for the quarter. Equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, December 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is 32.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial cut their price target on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and set a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Barclays set a $29.00 price target on shares of Old National Bancorp and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, UBS Group assumed coverage on shares of Old National Bancorp in a research report on Monday, December 15th. They set a “neutral” rating and a $25.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.09.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.