Old National Bancorp $ONB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,553,307 shares of the bank’s stock after selling 860,100 shares during the period. Bank of New York Mellon Corp’s holdings in Old National Bancorp were worth $79,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management increased its position in Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after buying an additional 704 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Old National Bancorp during the 4th quarter valued at about $28,000. Rothschild Investment LLC increased its position in Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares in the last quarter. JFS Wealth Advisors LLC increased its position in Old National Bancorp by 811.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after buying an additional 1,428 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Old National Bancorp during the 4th quarter valued at about $54,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONB has been the topic of a number of research reports. Citigroup 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, February 24th. Jefferies Financial Group increased their price objective on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday. Stephens increased their price objective on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $27.91.

Old National Bancorp Stock Down 0.7%

Old National Bancorp stock opened at $23.79 on Tuesday. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 12.26 and a beta of 0.84. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $26.17. The business’s 50-day moving average price is $23.52 and its 200 day moving average price is $23.23. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.Old National Bancorp’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.4%. Old National Bancorp’s dividend payout ratio is currently 29.90%.

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.