Mitsubishi UFJ Trust & Banking Corp Sells 19,373 Shares of Old National Bancorp (NASDAQ:ONB)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Old National Bancorp (NASDAQ:ONB) by 35.9% during the 4th quarter, Holdings Channel reports. The firm owned 34,662 shares of the bank’s stock after selling 19,373 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Old National Bancorp were worth $752,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC grew its stake in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock valued at $119,236,000 after buying an additional 3,474,578 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Old National Bancorp by 121,882.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock worth $35,921,000 after buying an additional 1,695,383 shares during the period. Fisher Asset Management LLC boosted its position in shares of Old National Bancorp by 28.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock valued at $88,998,000 after acquiring an additional 914,217 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Old National Bancorp in the fourth quarter valued at about $19,708,000. Finally, Geode Capital Management LLC increased its position in Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after acquiring an additional 514,315 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $21.02 on Wednesday. The stock has a market cap of $6.70 billion, a PE ratio of 12.51 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49. The business’s 50-day moving average price is $22.67 and its two-hundred day moving average price is $21.44.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, analysts expect that Old National Bancorp will post 2.08 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, March 17th. Investors of record on Wednesday, March 5th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

A number of research firms have issued reports on ONB. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Barclays increased their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Raymond James reiterated a “strong-buy” rating and set a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $26.29.

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.