Mutual of America Capital Management LLC Sells 6,479 Shares of Old National Bancorp (NASDAQ:ONB)

Mutual of America Capital Management LLC cut its stake in shares of Old National Bancorp (NASDAQ:ONB) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,369 shares of the bank’s stock after selling 6,479 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Old National Bancorp worth $3,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Old National Bancorp by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank’s stock worth $241,176,000 after buying an additional 841,195 shares in the last quarter. Channing Capital Management LLC boosted its position in Old National Bancorp by 33.9% in the fourth quarter. Channing Capital Management LLC now owns 4,985,395 shares of the bank’s stock worth $84,203,000 after purchasing an additional 1,263,060 shares during the last quarter. Verition Fund Management LLC boosted its position in Old National Bancorp by 48.9% in the fourth quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock worth $63,787,000 after purchasing an additional 1,240,952 shares during the last quarter. Norges Bank purchased a new position in Old National Bancorp in the fourth quarter worth about $55,808,000. Finally, Private Management Group Inc. boosted its position in Old National Bancorp by 0.4% in the fourth quarter. Private Management Group Inc. now owns 1,780,919 shares of the bank’s stock worth $30,080,000 after purchasing an additional 6,626 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total transaction of $803,825.00. Following the transaction, the chief financial officer now owns 88,712 shares of the company’s stock, valued at approximately $1,444,231.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Chady M. Alahmar sold 17,165 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total transaction of $272,923.50. Following the transaction, the chief executive officer now owns 50,001 shares of the company’s stock, valued at approximately $795,015.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the transaction, the chief financial officer now directly owns 88,712 shares in the company, valued at approximately $1,444,231.36. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $18.16 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 1 year low of $12.36 and a 1 year high of $18.35. The stock’s 50 day simple moving average is $16.86 and its two-hundred day simple moving average is $16.65. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 9.82 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Old National Bancorp had a return on equity of 11.31% and a net margin of 20.99%. The business had revenue of $440.20 million for the quarter, compared to the consensus estimate of $440.00 million. During the same quarter in the previous year, the company posted $0.54 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Old National Bancorp will post 1.82 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Wednesday, June 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Wednesday, June 5th. Old National Bancorp’s payout ratio is 30.27%.

Analysts Set New Price Targets

Several research analysts have issued reports on ONB shares. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, July 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Barclays lifted their price objective on Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Hovde Group initiated coverage on Old National Bancorp in a research report on Monday, June 3rd. They set an “outperform” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

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.