SG Americas Securities LLC Trims Position in Old National Bancorp (NASDAQ:ONB)

SG Americas Securities LLC lessened its stake in shares of Old National Bancorp (NASDAQ:ONBGet Rating) by 64.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,419 shares of the bank’s stock after selling 107,613 shares during the quarter. SG Americas Securities LLC’s holdings in Old National Bancorp were worth $957,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. UMB Bank N A MO bought a new stake in shares of Old National Bancorp during the 4th quarter valued at about $25,000. Tyler Stone Wealth Management bought a new stake in shares of Old National Bancorp during the 4th quarter valued at about $26,000. Fieldpoint Private Securities LLC boosted its position in shares of Old National Bancorp by 91.0% during the 1st quarter. Fieldpoint Private Securities LLC now owns 2,225 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,060 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Old National Bancorp by 92.0% during the 1st quarter. Fifth Third Bancorp now owns 3,223 shares of the bank’s stock valued at $53,000 after acquiring an additional 1,544 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new stake in Old National Bancorp in the 1st quarter worth approximately $57,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Old National Bancorp Price Performance

Shares of Old National Bancorp stock opened at $17.41 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50 day simple moving average is $15.43 and its two-hundred day simple moving average is $16.50. The stock has a market capitalization of $5.10 billion, a P/E ratio of 17.07 and a beta of 0.80. Old National Bancorp has a one year low of $14.22 and a one year high of $20.81.

Old National Bancorp (NASDAQ:ONBGet Rating) last posted its earnings results on Tuesday, July 26th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Old National Bancorp had a return on equity of 8.31% and a net margin of 17.40%. During the same quarter in the previous year, the firm earned $0.41 EPS. Analysts forecast that Old National Bancorp will post 1.77 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $0.56 annualized dividend and a dividend yield of 3.22%. Old National Bancorp’s dividend payout ratio (DPR) is presently 54.90%.

Wall Street Analyst Weigh In

ONB has been the subject of a number of recent research reports. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. TheStreet downgraded Old National Bancorp from a “b” rating to a “c+” rating in a research report on Friday, May 27th. Stephens upgraded Old National Bancorp from an “equal weight” rating to an “overweight” rating and set a $19.00 target price for the company in a research report on Friday, May 13th. Finally, Piper Sandler boosted their target price on Old National Bancorp to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.75.

Old National Bancorp Profile

(Get Rating)

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, letters of credit, and lease financing.

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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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