NewEdge Advisors LLC Sells 7,059 Shares of Old National Bancorp (NASDAQ:ONB)

NewEdge Advisors LLC lessened its stake in shares of Old National Bancorp (NASDAQ:ONB) by 23.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,262 shares of the bank’s stock after selling 7,059 shares during the period. NewEdge Advisors LLC’s holdings in Old National Bancorp were worth $505,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Old National Bancorp by 923.4% during the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock worth $189,374,000 after buying an additional 7,872,318 shares during the last quarter. Norges Bank bought a new position in Old National Bancorp during the fourth quarter worth $76,684,000. William Blair Investment Management LLC boosted its position in Old National Bancorp by 172.1% during the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after purchasing an additional 3,474,578 shares during the period. ExodusPoint Capital Management LP bought a new position in Old National Bancorp during the fourth quarter worth $42,316,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Old National Bancorp by 121,882.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock valued at $35,921,000 after acquiring an additional 1,695,383 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Down 0.4 %

ONB opened at $20.84 on Monday. Old National Bancorp has a twelve month low of $15.60 and a twelve month high of $24.49. The company has a 50-day simple moving average of $20.90 and a 200 day simple moving average of $21.54. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 12.40 and a beta of 0.82.

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

Old National Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ONB shares. Stephens reissued an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Barclays reduced their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reduced their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Citigroup reduced their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.