Old National Bancorp (NASDAQ:ONB) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in shares of Old National Bancorp (NASDAQ:ONB) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,437 shares of the bank’s stock after selling 2,025 shares during the quarter. Teacher Retirement System of Texas’ holdings in Old National Bancorp were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Xponance Inc. lifted its position in Old National Bancorp by 4.6% in the 4th quarter. Xponance Inc. now owns 44,862 shares of the bank’s stock valued at $974,000 after purchasing an additional 1,957 shares during the last quarter. Boston Partners raised its holdings in shares of Old National Bancorp by 2.8% during the fourth quarter. Boston Partners now owns 1,816,554 shares of the bank’s stock valued at $39,921,000 after buying an additional 48,678 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Old National Bancorp by 172.1% during the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after buying an additional 3,474,578 shares during the period. Cibc World Markets Corp bought a new position in Old National Bancorp in the 4th quarter worth approximately $639,000. Finally, First Eagle Investment Management LLC increased its position in Old National Bancorp by 1.4% in the 4th quarter. First Eagle Investment Management LLC now owns 566,998 shares of the bank’s stock valued at $12,307,000 after acquiring an additional 8,100 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of analyst reports. Barclays boosted 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 reiterated a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James restated a “strong-buy” rating and set a $29.00 price target (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Stephens reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.29.

Old National Bancorp Stock Down 2.0 %

NASDAQ ONB opened at $21.03 on Friday. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a market capitalization of $6.71 billion, a P/E ratio of 12.52 and a beta of 0.85. The company’s 50 day simple moving average is $22.76 and its 200 day simple moving average is $21.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly 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 10.13% and a net margin of 18.24%. During the same period in the previous year, the company earned $0.46 EPS. Equities research analysts expect that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is 33.33%.

Old National Bancorp Company 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.