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

Blue Trust Inc. lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 19.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,470 shares of the bank’s stock after selling 2,261 shares during the quarter. Blue Trust Inc.’s holdings in Old National Bancorp were worth $206,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Creative Planning raised its stake in shares of Old National Bancorp by 19.0% during the third quarter. Creative Planning now owns 95,315 shares of the bank’s stock valued at $1,779,000 after acquiring an additional 15,250 shares in the last quarter. Raymond James & Associates raised its stake in Old National Bancorp by 4.7% in the third quarter. Raymond James & Associates now owns 303,439 shares of the bank’s stock worth $5,662,000 after buying an additional 13,620 shares in the last quarter. International Assets Investment Management LLC raised its stake in Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock worth $26,000 after buying an additional 1,325 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Old National Bancorp in the third quarter worth approximately $471,000. Finally, State of Alaska Department of Revenue raised its stake in Old National Bancorp by 7.4% in the third quarter. State of Alaska Department of Revenue now owns 36,583 shares of the bank’s stock worth $682,000 after buying an additional 2,510 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of ONB opened at $24.30 on Thursday. The firm has a market capitalization of $7.75 billion, a PE ratio of 14.46 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. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The company’s fifty day moving average price is $22.68 and its 200-day moving average price is $20.79.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same quarter last year, the firm earned $0.46 EPS. On average, equities research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ONB. Raymond James reissued a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays upped their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Finally, Stephens reaffirmed an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

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.