Old National Bancorp (NASDAQ:ONB) Insider Sells $751,500.00 in Stock

Old National Bancorp (NASDAQ:ONB) insider Nicholas Chulos sold 30,000 shares of Old National Bancorp stock in a transaction on Tuesday, February 3rd. The stock was 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 $511,971.90. This represents a 59.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Old National Bancorp Trading Up 1.3%

ONB stock opened at $25.88 on Friday. Old National Bancorp has a 52 week low of $16.83 and a 52 week high of $26.17. The company has a market capitalization of $10.11 billion, a PE ratio of 14.46 and a beta of 0.84. The company’s 50-day simple moving average is $23.28 and its 200 day simple moving average is $22.11. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data 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 net margin of 17.91% and a return on equity of 15.06%. The firm had revenue of $714.50 million during the quarter, compared to the consensus estimate of $705.62 million. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ONB. Thrivent Financial for Lutherans raised its holdings in Old National Bancorp by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,799,932 shares of the bank’s stock worth $61,459,000 after purchasing an additional 204,788 shares during the last quarter. Boston Partners increased its position in shares of Old National Bancorp by 0.9% during the second quarter. Boston Partners now owns 1,895,273 shares of the bank’s stock worth $40,307,000 after buying an additional 17,033 shares during the period. Pacer Advisors Inc. raised its stake in Old National Bancorp by 481.5% during the third quarter. Pacer Advisors Inc. now owns 60,480 shares of the bank’s stock worth $1,328,000 after buying an additional 50,080 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Old National Bancorp by 863.6% in 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. Finally, Accredited Investors Inc. boosted its position in Old National Bancorp by 20.7% during the third quarter. Accredited Investors Inc. now owns 450,040 shares of the bank’s stock valued at $9,878,000 after acquiring an additional 77,145 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ONB. Royal Bank Of Canada lifted their price objective on Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, January 22nd. 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 price objective (down previously from $27.00) on shares of Old National Bancorp in a research report on Thursday, October 23rd. UBS Group reiterated a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a research note on Wednesday. Finally, TD Cowen raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $30.00 in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $27.36.

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.