Cwm LLC Buys 591 Shares of Old National Bancorp (NASDAQ:ONB)

Cwm LLC grew its stake in shares of Old National Bancorp (NASDAQ:ONB) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,365 shares of the bank’s stock after acquiring an additional 591 shares during the quarter. Cwm LLC’s holdings in Old National Bancorp were worth $1,630,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Old National Bancorp by 194.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,005 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Old National Bancorp in the first quarter worth $28,000. HHM Wealth Advisors LLC bought a new position in shares of Old National Bancorp during the second quarter valued at $28,000. LRI Investments LLC purchased a new stake in shares of Old National Bancorp during the first quarter valued at $48,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Old National Bancorp in the 2nd quarter worth about $103,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

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

Old National Bancorp Trading Up 1.4 %

Shares of Old National Bancorp stock opened at $19.13 on Wednesday. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43. The company’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $17.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $6.10 billion, a PE ratio of 10.34 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $750.93 million for the quarter, compared to the consensus estimate of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, equities analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s dividend payout ratio is 30.27%.

Wall Street Analyst Weigh In

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

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.