Fisher Asset Management LLC Sells 711,070 Shares of Old National Bancorp (NASDAQ:ONB)

Fisher Asset Management LLC trimmed its position in Old National Bancorp (NASDAQ:ONB) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,476,060 shares of the bank’s stock after selling 711,070 shares during the quarter. Fisher Asset Management LLC owned approximately 1.19% of Old National Bancorp worth $58,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James & Associates boosted its position in shares of Old National Bancorp by 7.1% in the third quarter. Raymond James & Associates now owns 299,281 shares of the bank’s stock valued at $4,352,000 after acquiring an additional 19,903 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Old National Bancorp by 24.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,818 shares of the bank’s stock valued at $812,000 after acquiring an additional 11,074 shares during the period. AlphaMark Advisors LLC acquired a new stake in shares of Old National Bancorp during the 3rd quarter worth $228,000. Teacher Retirement System of Texas increased its position in shares of Old National Bancorp by 54.6% in the third quarter. Teacher Retirement System of Texas now owns 129,800 shares of the bank’s stock worth $1,887,000 after purchasing an additional 45,863 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Old National Bancorp by 39.9% in the third quarter. Nisa Investment Advisors LLC now owns 83,139 shares of the bank’s stock valued at $1,209,000 after purchasing an additional 23,700 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 0.9 %

Shares of ONB stock opened at $17.19 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.93. The firm has a market cap of $5.48 billion, a P/E ratio of 9.29 and a beta of 0.83. The business has a 50-day moving average price of $16.52 and a two-hundred day moving average price of $16.02. Old National Bancorp has a 12-month low of $11.66 and a 12-month high of $17.64.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The company’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Equities analysts anticipate that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.26%. Old National Bancorp’s dividend payout ratio is currently 30.27%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ONB. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Old National Bancorp in a research note on Tuesday, April 9th. Barclays upped their price objective on Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. UBS Group decreased their target price on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.86.

Insider Activity

In related news, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the transaction, the chief financial officer now owns 88,712 shares in the company, valued at $1,444,231.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.07% of the company’s stock.

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.