Leuthold Group LLC Has $3.07 Million Holdings in Old National Bancorp (NASDAQ:ONB)

Leuthold Group LLC cut its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,803 shares of the bank’s stock after selling 1,661 shares during the quarter. Leuthold Group LLC owned 0.06% of Old National Bancorp worth $3,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after acquiring an additional 1,005 shares during the period. Rise Advisors LLC bought a new position in shares of Old National Bancorp in the first quarter worth $28,000. HHM Wealth Advisors LLC acquired a new position in Old National Bancorp in the second quarter valued at about $28,000. LRI Investments LLC acquired a new stake in Old National Bancorp during the first quarter worth about $48,000. Finally, First Financial Corp IN increased its holdings in Old National Bancorp by 176.8% in the 2nd quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock valued at $105,000 after buying an additional 3,887 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

Shares of ONB opened at $19.05 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The stock has a market cap of $6.08 billion, a PE ratio of 10.30 and a beta of 0.83. Old National Bancorp has a 12-month low of $12.36 and a 12-month high of $20.43. The business has a 50-day simple moving average of $18.95 and a two-hundred day simple moving average of $17.47.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. The business had revenue of $750.93 million during the quarter, compared to analyst estimates of $474.10 million. During the same quarter last year, the business earned $0.54 EPS. Analysts anticipate that Old National Bancorp will post 1.85 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.94%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Insider Transactions at Old National Bancorp

In related news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, the insider now directly owns 117,676 shares in the company, valued at $2,335,868.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James A. Sandgren sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the sale, the insider now owns 117,676 shares of the company’s stock, valued at $2,335,868.60. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ONB shares. Barclays lifted their price objective on shares of Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Hovde Group began coverage on Old National Bancorp in a research report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.63.

About Old National Bancorp

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.