Commonwealth Equity Services LLC Sells 6,567 Shares of Old National Bancorp (NASDAQ:ONB)

Commonwealth Equity Services LLC decreased its holdings in Old National Bancorp (NASDAQ:ONB) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,762 shares of the bank’s stock after selling 6,567 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Old National Bancorp were worth $1,251,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after purchasing an additional 1,005 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Old National Bancorp in the 1st quarter valued at approximately $28,000. LRI Investments LLC bought a new stake in shares of Old National Bancorp in the 1st quarter valued at approximately $48,000. First Financial Corp IN raised its holdings in shares of Old National Bancorp by 176.8% in the 2nd quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock worth $105,000 after buying an additional 3,887 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Old National Bancorp by 14.5% during the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after buying an additional 1,020 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Old National Bancorp Stock Up 3.0 %

NASDAQ:ONB opened at $18.76 on Monday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 10.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s fifty day moving average price is $18.86 and its two-hundred day moving average price is $17.44. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $20.43.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $750.93 million during the quarter, compared to the consensus estimate of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, analysts anticipate that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, September 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Insider Transactions at Old National Bancorp

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

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.