Commonwealth Equity Services LLC Decreases Holdings in Old National Bancorp (NASDAQ:ONB)

Commonwealth Equity Services LLC trimmed its stake in Old National Bancorp (NASDAQ:ONB) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,622 shares of the bank’s stock after selling 826 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Old National Bancorp were worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Swiss National Bank grew its position in shares of Old National Bancorp by 0.6% in the fourth quarter. Swiss National Bank now owns 627,437 shares of the bank’s stock valued at $13,619,000 after purchasing an additional 3,600 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Old National Bancorp by 17.4% during the fourth quarter. HighTower Advisors LLC now owns 16,659 shares of the bank’s stock valued at $362,000 after buying an additional 2,472 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Old National Bancorp by 12.4% in the fourth quarter. Channing Capital Management LLC now owns 4,618,462 shares of the bank’s stock worth $100,244,000 after buying an additional 509,028 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Old National Bancorp by 8.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,238 shares of the bank’s stock valued at $1,611,000 after acquiring an additional 6,091 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Old National Bancorp by 242.3% in the fourth quarter. AlphaQuest LLC now owns 16,764 shares of the bank’s stock valued at $364,000 after acquiring an additional 11,867 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays increased their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Raymond James reissued a “strong-buy” rating and issued a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reissued 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. Finally, Stephens reissued an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Down 2.0 %

ONB stock opened at $21.03 on Friday. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 12.52 and a beta of 0.85. The business’s 50 day moving average price is $22.76 and its two-hundred day moving average price is $21.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the previous year, the business earned $0.46 EPS. As a group, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.66%. Old National Bancorp’s dividend payout ratio (DPR) is currently 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.