BI Asset Management Fondsmaeglerselskab A S Trims Stock Position in Old National Bancorp $ONB

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Old National Bancorp (NASDAQ:ONB) by 22.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,835 shares of the bank’s stock after selling 36,479 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Old National Bancorp were worth $2,696,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of Old National Bancorp by 157.0% in the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after purchasing an additional 755 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Old National Bancorp by 310.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock valued at $33,000 after buying an additional 1,159 shares during the period. First Horizon Corp acquired a new position in Old National Bancorp in the third quarter valued at about $39,000. EverSource Wealth Advisors LLC boosted its stake in Old National Bancorp by 794.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the bank’s stock worth $76,000 after buying an additional 3,169 shares during the period. Finally, Allworth Financial LP increased its position in shares of Old National Bancorp by 18.7% during the second quarter. Allworth Financial LP now owns 4,293 shares of the bank’s stock valued at $92,000 after acquiring an additional 677 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ONB shares. TD Cowen upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Thursday, January 22nd. UBS Group restated a “neutral” rating and set a $26.00 price target on shares of Old National Bancorp in a research note on Wednesday. National Bankshares set a $30.00 price objective on Old National Bancorp in a research note on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $26.00 target price (down previously from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Finally, Stephens lifted their target price on Old National Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.36.

Old National Bancorp Trading Up 1.3%

NASDAQ:ONB opened at $25.88 on Friday. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $26.17. The firm has a market cap of $10.11 billion, a PE ratio of 14.46 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $23.28 and a 200 day moving average price of $22.11.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.The company had revenue of $714.50 million for the quarter, compared to analyst estimates of $705.62 million. During the same quarter last year, the company earned $0.49 EPS. Sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, December 5th were paid a $0.14 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.2%. Old National Bancorp’s payout ratio is currently 31.28%.

Insider Buying and Selling

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the sale, the insider directly owned 20,438 shares of the company’s stock, valued at approximately $511,971.90. This represents a 59.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.87% of the stock is owned by company insiders.

Old National Bancorp Company 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.