Equitable Trust Co. Sells 185,904 Shares of Old National Bancorp (NASDAQ:ONB)

Equitable Trust Co. decreased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 42.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,403 shares of the bank’s stock after selling 185,904 shares during the period. Equitable Trust Co. owned approximately 0.08% of Old National Bancorp worth $5,413,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ONB. International Assets Investment Management LLC boosted its stake 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 worth $26,000 after acquiring an additional 1,325 shares in the last quarter. Empowered Funds LLC purchased a new position in Old National Bancorp in the fourth quarter worth about $28,000. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. raised its holdings in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Old National Bancorp by 156.8% in the third quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after buying an additional 2,385 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

ONB has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Stephens reissued an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Down 0.6 %

Shares of ONB stock opened at $24.31 on Monday. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $24.49. The stock has a market cap of $7.75 billion, a P/E ratio of 14.47 and a beta of 0.88. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The company has a 50 day simple moving average of $22.53 and a two-hundred day simple moving average of $20.55.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, research analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were given a $0.14 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.30%. Old National Bancorp’s payout ratio is currently 33.33%.

Old National Bancorp 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.