Old National Bancorp (NASDAQ:ONB) Position Cut by Cerity Partners LLC

Cerity Partners LLC lowered its position in Old National Bancorp (NASDAQ:ONB) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,652 shares of the bank’s stock after selling 3,300 shares during the quarter. Cerity Partners LLC’s holdings in Old National Bancorp were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ONB. HighTower Advisors LLC grew its stake in shares of Old National Bancorp by 26.5% in the third quarter. HighTower Advisors LLC now owns 14,187 shares of the bank’s stock worth $267,000 after purchasing an additional 2,969 shares in the last quarter. Stifel Financial Corp grew its position in Old National Bancorp by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after buying an additional 648 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Old National Bancorp by 175.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,848 shares of the bank’s stock worth $165,000 after buying an additional 5,632 shares in the last quarter. Barclays PLC lifted its position in Old National Bancorp by 93.6% in the third quarter. Barclays PLC now owns 839,504 shares of the bank’s stock worth $15,665,000 after purchasing an additional 405,956 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in Old National Bancorp by 31.1% during the third quarter. Sanctuary Advisors LLC now owns 31,597 shares of the bank’s stock worth $590,000 after acquiring an additional 7,489 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $19.59 on Friday. The business has a fifty day simple moving average of $21.36 and a 200 day simple moving average of $21.41. Old National Bancorp has a 1 year low of $15.52 and a 1 year high of $24.49. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 11.66 and a beta of 0.82. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share 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 quarter last year, the company earned $0.46 EPS. As a group, sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ONB shares. Stephens reiterated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James reduced their target price on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 2nd. Finally, Barclays lowered their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $25.71.

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.