Steward Partners Investment Advisory LLC Sells 2,200 Shares of Old National Bancorp (NASDAQ:ONB)

Steward Partners Investment Advisory LLC decreased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 64.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,205 shares of the bank’s stock after selling 2,200 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Old National Bancorp were worth $26,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in Old National Bancorp in the 4th quarter valued at $28,000. Versant Capital Management Inc increased its stake in Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. increased its stake in Old National Bancorp by 58.9% in the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after buying an additional 663 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp in the 4th quarter valued at $65,000. Finally, Allworth Financial LP increased its stake in Old National Bancorp by 150.5% in the 4th quarter. Allworth Financial LP now owns 3,507 shares of the bank’s stock valued at $82,000 after buying an additional 2,107 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ONB. Barclays lifted their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $21.60 on Thursday. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 12.86 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. The company has a 50-day simple moving average of $22.83 and a 200 day simple moving average of $21.27. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

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.