Glenmede Trust Co. NA Has $1.91 Million Stock Holdings in Old National Bancorp $ONB

Glenmede Trust Co. NA raised its stake in Old National Bancorp (NASDAQ:ONB) by 114.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,319 shares of the bank’s stock after purchasing an additional 46,094 shares during the period. Glenmede Trust Co. NA’s holdings in Old National Bancorp were worth $1,908,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ONB. Kemnay Advisory Services Inc. acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at about $27,000. Flagship Harbor Advisors LLC bought a new stake in Old National Bancorp in the 4th quarter valued at about $28,000. Los Angeles Capital Management LLC acquired a new position in Old National Bancorp during the 4th quarter worth approximately $36,000. Peterson Wealth Services raised its stake in Old National Bancorp by 9,711.8% during the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after buying an additional 1,651 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in Old National Bancorp in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ONB. Royal Bank Of Canada raised their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Stephens increased their target price on Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Truist Financial lifted their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Citigroup boosted their price target on shares of Old National Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.36.

Old National Bancorp Stock Performance

Shares of ONB opened at $27.00 on Thursday. The firm has a market capitalization of $10.33 billion, a P/E ratio of 12.00 and a beta of 0.84. Old National Bancorp has a 52 week low of $19.39 and a 52 week high of $27.36. The stock has a 50 day moving average price of $25.60 and a two-hundred day moving average price of $24.25. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 0.94.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $726.86 million for the quarter, compared to analyst estimates of $716.25 million. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. Equities analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, June 5th. Old National Bancorp’s dividend payout ratio is presently 25.78%.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, CEO Chady M. Alahmar sold 11,771 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the transaction, the chief executive officer directly owned 63,531 shares in the company, valued at approximately $1,677,853.71. This trade represents a 15.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas J. Chulos sold 20,000 shares of Old National Bancorp stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider directly owned 53,544 shares in the company, valued at $1,427,483.04. This represents a 27.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is currently owned by company insiders.

About Old National Bancorp

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.