Old National Bancorp (NASDAQ:ONB) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,102,728 shares of the bank’s stock after selling 8,659 shares during the quarter. Leeward Investments LLC MA owned about 0.38% of Old National Bancorp worth $18,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its position 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 worth $38,000 after purchasing an additional 949 shares during the last quarter. Ronald Blue Trust Inc. grew its position in Old National Bancorp by 55.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank’s stock worth $40,000 after purchasing an additional 1,036 shares during the last quarter. Lynch & Associates IN grew its position in Old National Bancorp by 18.9% during 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 during the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Old National Bancorp during the 4th quarter worth $181,000. Finally, Trust Point Inc. purchased a new position in Old National Bancorp during the 4th quarter worth $189,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Down 0.5 %

ONB stock opened at $16.57 on Friday. The company has a market cap of $4.86 billion, a P/E ratio of 8.96 and a beta of 0.83. Old National Bancorp has a 52 week low of $11.66 and a 52 week high of $17.64. The company’s 50-day moving average price is $16.47 and its 200 day moving average price is $15.93. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $440.20 million during the quarter, compared to analysts’ expectations of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. On average, research analysts expect that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s payout ratio is currently 30.27%.

Analyst Ratings Changes

Several brokerages have issued reports on ONB. Stephens lowered their price objective on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Barclays lifted their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group lowered their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.86.

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.