Guggenheim Capital LLC Sells 69,355 Shares of Old National Bancorp (NASDAQ:ONB)

Guggenheim Capital LLC lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 83.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,814 shares of the bank’s stock after selling 69,355 shares during the quarter. Guggenheim Capital LLC’s holdings in Old National Bancorp were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sanctuary Advisors LLC raised its holdings in shares of Old National Bancorp by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after acquiring an additional 432 shares in the last quarter. Mariner LLC raised its holdings in shares of Old National Bancorp by 0.9% during the fourth quarter. Mariner LLC now owns 57,744 shares of the bank’s stock valued at $1,253,000 after acquiring an additional 509 shares in the last quarter. Covestor Ltd raised its holdings in shares of Old National Bancorp by 13.6% during the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank’s stock valued at $95,000 after acquiring an additional 524 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after acquiring an additional 615 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Old National Bancorp by 3.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock valued at $356,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Trading Down 0.4 %

NASDAQ ONB opened at $20.84 on Monday. Old National Bancorp has a 12 month low of $15.60 and a 12 month high of $24.49. The stock has a market cap of $6.65 billion, a P/E ratio of 12.40 and a beta of 0.82. The stock’s fifty day moving average price is $20.90 and its 200-day moving average price is $21.54. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The firm had revenue of $486.87 million for the quarter, compared to analysts’ expectations of $478.37 million. As a group, equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.69%. Old National Bancorp’s dividend payout ratio (DPR) is presently 32.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays decreased their target price on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Raymond James decreased their price objective on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Stephens reiterated an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Citigroup decreased their price objective on Old National Bancorp from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.63.

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.