Old National Bancorp (NASDAQ:ONB) Shares Sold by First Hawaiian Bank

First Hawaiian Bank trimmed its stake in shares of Old National Bancorp (NASDAQ:ONB) by 4.4% during the fourth quarter, HoldingsChannel reports. The fund owned 36,842 shares of the bank’s stock after selling 1,690 shares during the quarter. First Hawaiian Bank’s holdings in Old National Bancorp were worth $800,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Neville Rodie & Shaw Inc. bought a new position in shares of Old National Bancorp in the 4th quarter worth about $652,000. Versant Capital Management Inc lifted its position in shares of Old National Bancorp by 58.4% in the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Old National Bancorp by 13.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock worth $65,275,000 after buying an additional 416,647 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Old National Bancorp by 31.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,597 shares of the bank’s stock worth $590,000 after buying an additional 7,489 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Old National Bancorp in the 3rd quarter worth about $124,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Raymond James upgraded shares of Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, November 26th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.38.

Old National Bancorp Stock Down 2.9 %

Old National Bancorp stock opened at $20.63 on Friday. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 12.50 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $21.89 and its two-hundred day moving average price is $19.76. Old National Bancorp has a 52 week low of $15.36 and a 52 week high of $23.76.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $485.86 million for the quarter, compared to analysts’ expectations of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, analysts expect that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.71%. Old National Bancorp’s dividend payout ratio is currently 33.94%.

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.