Mutual of America Capital Management LLC Sells 8,411 Shares of Old National Bancorp (NASDAQ:ONB)

Mutual of America Capital Management LLC reduced its stake in Old National Bancorp (NASDAQ:ONB) by 4.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 172,389 shares of the bank’s stock after selling 8,411 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Old National Bancorp were worth $3,217,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ONB. Accredited Investors Inc. bought a new stake in Old National Bancorp in the 3rd quarter valued at about $5,475,000. Natixis Advisors LLC grew its stake in Old National Bancorp by 5.6% in the third quarter. Natixis Advisors LLC now owns 57,495 shares of the bank’s stock valued at $1,073,000 after acquiring an additional 3,029 shares during the period. KBC Group NV increased its holdings in shares of Old National Bancorp by 16.3% during the third quarter. KBC Group NV now owns 9,789 shares of the bank’s stock valued at $183,000 after acquiring an additional 1,375 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in shares of Old National Bancorp by 10.6% during the third quarter. Pinnacle Financial Partners Inc now owns 14,561 shares of the bank’s stock worth $272,000 after purchasing an additional 1,395 shares during the period. Finally, MQS Management LLC lifted its holdings in shares of Old National Bancorp by 31.7% in the 3rd quarter. MQS Management LLC now owns 25,195 shares of the bank’s stock worth $470,000 after purchasing an additional 6,061 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $21.65 on Friday. Old National Bancorp has a 52 week low of $14.32 and a 52 week high of $22.75. The company’s 50 day moving average price is $19.55 and its two-hundred day moving average price is $18.47. The stock has a market cap of $6.91 billion, a P/E ratio of 13.12 and a beta of 0.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. Old National Bancorp’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. On average, equities analysts predict that Old National Bancorp will post 1.84 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 33.94%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ONB. Barclays raised their price objective 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. StockNews.com downgraded 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 given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.43.

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.