Old National Bancorp $ONB Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Old National Bancorp (NASDAQ:ONB) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,823,297 shares of the bank’s stock after selling 69,923 shares during the period. JPMorgan Chase & Co. owned approximately 0.72% of Old National Bancorp worth $61,971,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in Old National Bancorp by 5.3% in the third quarter. Principal Financial Group Inc. now owns 786,469 shares of the bank’s stock valued at $17,263,000 after purchasing an additional 39,892 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Old National Bancorp by 7.9% in the third quarter. Thrivent Financial for Lutherans now owns 2,799,932 shares of the bank’s stock valued at $61,459,000 after buying an additional 204,788 shares in the last quarter. Boston Partners raised its holdings in shares of Old National Bancorp by 0.9% during the 2nd quarter. Boston Partners now owns 1,895,273 shares of the bank’s stock valued at $40,307,000 after buying an additional 17,033 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Old National Bancorp by 481.5% during the 3rd quarter. Pacer Advisors Inc. now owns 60,480 shares of the bank’s stock valued at $1,328,000 after buying an additional 50,080 shares during the period. Finally, Algebris UK Ltd. acquired a new position in Old National Bancorp during the 3rd quarter worth approximately $25,622,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $23.98 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.93 and a current ratio of 0.93. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $26.17. The firm’s 50-day simple moving average is $23.83 and its 200-day simple moving average is $22.43. The firm has a market cap of $9.34 billion, a PE ratio of 13.40 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Old National Bancorp had a return on equity of 10.75% and a net margin of 17.91%.The firm had revenue of $698.53 million during the quarter, compared to analyst estimates of $705.62 million. During the same period in the previous year, the company earned $0.49 earnings per share. Equities analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, May 16th. Investors of record on Tuesday, May 5th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio is currently 31.28%.

Insider Transactions at Old National Bancorp

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of Old National Bancorp stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the completion of the transaction, the insider owned 20,438 shares of the company’s stock, valued at $511,971.90. The trade was a 59.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ONB. National Bank Financial set a $30.00 price objective on shares of Old National Bancorp in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. TD Cowen upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $27.00 to $30.00 in a report on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $27.45.

Old National Bancorp 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.