Savant Capital LLC Trims Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Savant Capital LLC trimmed its stake in Old National Bancorp (NASDAQ:ONB) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,596 shares of the bank’s stock after selling 6,210 shares during the quarter. Savant Capital LLC’s holdings in Old National Bancorp were worth $339,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its holdings in shares of Old National Bancorp by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank’s stock valued at $59,453,000 after purchasing an additional 90,747 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Old National Bancorp by 12.1% in the 3rd quarter. Citigroup Inc. now owns 485,023 shares of the bank’s stock valued at $9,051,000 after purchasing an additional 52,430 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Old National Bancorp in the 3rd quarter valued at approximately $452,000. JPMorgan Chase & Co. lifted its stake in shares of Old National Bancorp by 13.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock worth $65,275,000 after acquiring an additional 416,647 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $209,000. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Barclays upped their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Stephens reissued an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price target (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Stock Up 0.1 %

Shares of NASDAQ ONB opened at $23.89 on Tuesday. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 14.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50-day moving average of $22.63 and a two-hundred day moving average of $20.72. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same quarter in the previous year, the company earned $0.46 EPS. On average, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

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.