Short Interest in Old National Bancorp (NASDAQ:ONB) Rises By 7.3%

Old National Bancorp (NASDAQ:ONB) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 9,790,000 shares, a growth of 7.3% from the January 15th total of 9,120,000 shares. Approximately 5.9% of the shares of the company are sold short. Based on an average daily volume of 957,300 shares, the short-interest ratio is currently 10.2 days.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Old National Bancorp by 3.9% during the 2nd quarter. BlackRock Inc. now owns 23,241,359 shares of the bank’s stock valued at $385,576,000 after buying an additional 862,874 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Old National Bancorp by 15.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 127,021 shares of the bank’s stock valued at $2,185,000 after buying an additional 17,447 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Old National Bancorp by 9.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 11,218 shares of the bank’s stock valued at $193,000 after buying an additional 956 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Old National Bancorp by 8.0% during the 3rd quarter. Stephens Inc. AR now owns 11,695 shares of the bank’s stock valued at $201,000 after buying an additional 863 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Old National Bancorp by 7.7% during the 3rd quarter. Strs Ohio now owns 15,300 shares of the bank’s stock valued at $263,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 67.85% of the company’s stock.

ONB has been the subject of several analyst reports. ValuEngine cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. BidaskClub cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Boenning Scattergood cut shares of Old National Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has an average rating of “Sell” and a consensus price target of $19.50.

Shares of ONB stock traded down $0.12 during trading hours on Friday, hitting $18.29. The company’s stock had a trading volume of 618,700 shares, compared to its average volume of 1,010,200. The business has a fifty day moving average of $18.20 and a 200-day moving average of $17.74. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 13.25 and a beta of 0.95. Old National Bancorp has a twelve month low of $15.63 and a twelve month high of $18.74. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). The business had revenue of $196.63 million during the quarter, compared to analyst estimates of $196.10 million. Old National Bancorp had a net margin of 25.62% and a return on equity of 8.80%. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, equities analysts expect that Old National Bancorp will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.56 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Old National Bancorp’s previous quarterly dividend of $0.13. Old National Bancorp’s dividend payout ratio (DPR) is 35.86%.

About Old National Bancorp

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

Featured Story: How Investors Can Profit from Options Trading

Receive News & Ratings for Old National Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old National Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply