Blue Trust Inc. Cuts Stock Position in Old National Bancorp (NASDAQ:ONB)

Blue Trust Inc. lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 19.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,470 shares of the bank’s stock after selling 2,261 shares during the period. Blue Trust Inc.’s holdings in Old National Bancorp were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Studio Investment Management LLC increased its stake in Old National Bancorp by 2.6% in the 3rd quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock worth $388,000 after buying an additional 524 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after purchasing an additional 615 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock worth $1,000,000 after purchasing an additional 648 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after purchasing an additional 663 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Old National Bancorp by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 47,550 shares of the bank’s stock worth $1,032,000 after purchasing an additional 975 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

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

Old National Bancorp Trading Up 0.4 %

ONB opened at $24.30 on Thursday. The firm has a market cap of $7.75 billion, a P/E ratio of 14.46 and a beta of 0.88. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $22.68 and a 200 day moving average of $20.79.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $0.46 earnings per share. As a group, research analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

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.