Equitable Trust Co. Sells 148,263 Shares of Old National Bancorp $ONB

Equitable Trust Co. lessened its position in Old National Bancorp (NASDAQ:ONB) by 70.7% during the first quarter, Holdings Channel reports. The institutional investor owned 61,559 shares of the bank’s stock after selling 148,263 shares during the quarter. Equitable Trust Co.’s holdings in Old National Bancorp were worth $1,360,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONB. Carlson Capital L.P. boosted its position in Old National Bancorp by 1.1% during the 4th quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock worth $848,000 after acquiring an additional 400 shares during the last quarter. Glenmede Investment Management LP raised its holdings in shares of Old National Bancorp by 1.0% in the third quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock valued at $1,362,000 after purchasing an additional 625 shares during the last quarter. Teza Capital Management LLC raised its holdings in shares of Old National Bancorp by 6.8% in the second quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after purchasing an additional 702 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Old National Bancorp by 4.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 16,863 shares of the bank’s stock worth $376,000 after purchasing an additional 703 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Old National Bancorp by 5.9% in the fourth quarter. HB Wealth Management LLC now owns 13,147 shares of the bank’s stock worth $293,000 after purchasing an additional 730 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

ONB has been the subject of several recent research reports. Barclays increased their target price on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a research report on Thursday, June 4th. Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Truist Financial raised their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Jefferies Financial Group lifted their target price on Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $28.55.

Old National Bancorp Trading Up 0.2%

Shares of Old National Bancorp stock opened at $26.21 on Friday. The stock has a market cap of $10.13 billion, a P/E ratio of 13.51 and a beta of 0.83. 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 has a 12-month low of $19.39 and a 12-month high of $26.70. The business’s 50 day moving average is $24.63 and its 200-day moving average is $23.78.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm’s revenue was up 44.4% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts predict that Old National Bancorp will post 2.56 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.145 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. Old National Bancorp’s dividend payout ratio (DPR) 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.