Old National Bancorp (NASDAQ:ONB) CFO Brendon B. Falconer Sells 49,375 Shares

Old National Bancorp (NASDAQ:ONB) CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the transaction, the chief financial officer now owns 88,712 shares in the company, valued at approximately $1,444,231.36. The sale was disclosed in a filing with the SEC, which is available at this link.

Old National Bancorp Stock Performance

ONB opened at $16.70 on Tuesday. The firm has a fifty day moving average price of $16.48 and a 200 day moving average price of $15.96. Old National Bancorp has a 1 year low of $11.66 and a 1 year high of $17.64. The stock has a market cap of $4.90 billion, a P/E ratio of 9.03 and a beta of 0.83. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The company had revenue of $440.20 million during the quarter, compared to analysts’ expectations of $440.00 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.35%. Old National Bancorp’s payout ratio is 30.27%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. UBS Group dropped their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Barclays raised their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Institutional Trading of Old National Bancorp

Several institutional investors have recently bought and sold shares of ONB. Rise Advisors LLC acquired a new position in shares of Old National Bancorp during the 1st quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in Old National Bancorp by 57.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after acquiring an additional 949 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,020 shares during the last quarter. Lynch & Associates IN lifted its stake in Old National Bancorp by 18.9% in the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock worth $177,000 after purchasing an additional 1,932 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC acquired a new position in shares of Old National Bancorp during the 4th quarter worth approximately $181,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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.