Old National Bancorp (NASDAQ:ONB) CFO John Moran Sells 19,261 Shares of Company Stock

Old National Bancorp (NASDAQ:ONB) CFO John Moran sold 19,261 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $25.57, for a total transaction of $492,503.77. Following the completion of the transaction, the chief financial officer directly owned 101,467 shares in the company, valued at $2,594,511.19. This trade represents a 15.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Old National Bancorp Price Performance

ONB opened at $25.89 on Thursday. The firm has a market cap of $9.79 billion, a P/E ratio of 10.57 and a beta of 0.88. The firm has a 50-day moving average of $25.21 and a 200 day moving average of $24.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.93 and a current ratio of 0.93. Old National Bancorp has a fifty-two week low of $19.60 and a fifty-two week high of $27.36.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, October 21st. The bank reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $719.00 million for the quarter, compared to analyst estimates of $732.04 million. Old National Bancorp had a net margin of 23.36% and a return on equity of 12.02%. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, research analysts expect that Old National Bancorp will post 2.57 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Saturday, September 5th were paid a dividend of $0.1450 per share. The ex-dividend date was Friday, September 4th. This represents a $0.58 annualized dividend and a dividend yield of 2.2%. Old National Bancorp’s dividend payout ratio (DPR) is presently 23.67%.

Wall Street Analysts Forecast Growth

ONB has been the topic of a number of research reports. Citigroup lowered their price target on shares of Old National Bancorp from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. TD Cowen reduced their price objective on Old National Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Truist Financial increased their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Royal Bank Of Canada decreased their target price on Old National Bancorp from $29.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, October 9th. Finally, Weiss Ratings upgraded Old National Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, October 26th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.64.

Hedge Funds Weigh In On Old National Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONB. Fortitude Family Office LLC grew its position in shares of Old National Bancorp by 313.5% in the third quarter. Fortitude Family Office LLC now owns 1,075 shares of the bank’s stock valued at $26,000 after purchasing an additional 815 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Old National Bancorp during the 2nd quarter valued at $39,000. Integrated Wealth Concepts LLC bought a new stake in shares of Old National Bancorp during the 2nd quarter valued at $41,000. FNY Investment Advisers LLC purchased a new stake in Old National Bancorp during the 2nd quarter worth about $49,000. Finally, Root Financial Partners LLC purchased a new stake in Old National Bancorp during the 3rd quarter worth about $53,000. Institutional investors own 83.66% of the company’s stock.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is a regional financial services company headquartered in Evansville, Indiana. Through its principal subsidiary, Old National Bank, the company provides banking and financial solutions to individuals, families, businesses and institutions.

Its products and services include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury and cash-management services, trust and investment management, wealth management, and other financial advisory services.