Phocas Financial Corp. Has $7.23 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Phocas Financial Corp. lowered its position in shares of Old National Bancorp (NASDAQ:ONB) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 387,563 shares of the bank’s stock after selling 24,104 shares during the quarter. Phocas Financial Corp. owned about 0.12% of Old National Bancorp worth $7,232,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after buying an additional 1,005 shares in the last quarter. International Assets Investment Management LLC raised its position in Old National Bancorp by 1,766.7% during the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Old National Bancorp during the second quarter worth $28,000. LRI Investments LLC acquired a new stake in shares of Old National Bancorp in the 1st quarter valued at $48,000. Finally, Quest Partners LLC bought a new position in Old National Bancorp in the third quarter valued at about $91,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $21.22 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a twelve month low of $14.32 and a twelve month high of $22.75. The company has a fifty day moving average of $19.33 and a 200-day moving average of $18.37. The firm has a market capitalization of $6.77 billion, a P/E ratio of 12.86 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The firm had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. As a group, sell-side analysts anticipate that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.64%. Old National Bancorp’s dividend payout ratio is currently 33.94%.

Analysts Set New Price Targets

ONB has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Royal Bank of Canada increased their price target on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their price objective on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Old National Bancorp Company Profile

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.