Old National Bancorp (NASDAQ:ONB) Stock Position Cut by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC trimmed its stake in shares of Old National Bancorp (NASDAQ:ONB) by 7.4% during the third quarter, Holdings Channel reports. The institutional investor owned 14,659 shares of the bank’s stock after selling 1,172 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Old National Bancorp were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ONB. SageView Advisory Group LLC bought a new stake in Old National Bancorp during the fourth quarter worth approximately $301,000. First Hawaiian Bank lifted its holdings in shares of Old National Bancorp by 3.4% in the first quarter. First Hawaiian Bank now owns 39,862 shares of the bank’s stock valued at $694,000 after buying an additional 1,320 shares during the period. Rise Advisors LLC bought a new position in Old National Bancorp during the first quarter valued at about $28,000. Thrive Wealth Management LLC acquired a new position in Old National Bancorp during the first quarter worth about $273,000. Finally, Independence Bank of Kentucky raised its position in Old National Bancorp by 9.2% in the first quarter. Independence Bank of Kentucky now owns 11,962 shares of the bank’s stock worth $208,000 after acquiring an additional 1,006 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Up 2.9 %

Shares of Old National Bancorp stock opened at $18.74 on Monday. Old National Bancorp has a 1 year low of $12.36 and a 1 year high of $20.43. The company has a market cap of $5.98 billion, a P/E ratio of 10.13 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $18.64 and a 200 day moving average price of $17.70.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. The business had revenue of $750.93 million during the quarter, compared to analyst estimates of $474.10 million. During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is currently 30.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Barclays raised their price objective on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

Insider Transactions at Old National Bancorp

In other news, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the completion of the sale, the insider now directly owns 117,676 shares of the company’s stock, valued at $2,335,868.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the sale, the chief executive officer now directly owns 287,409 shares in the company, valued at approximately $5,730,935.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the transaction, the insider now owns 117,676 shares in the company, valued at approximately $2,335,868.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

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.