US Bancorp DE Cuts Holdings in Old National Bancorp (NASDAQ:ONB)

US Bancorp DE trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONBGet Rating) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,197 shares of the bank’s stock after selling 2,214 shares during the quarter. US Bancorp DE’s holdings in Old National Bancorp were worth $613,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in Old National Bancorp in the second quarter valued at approximately $176,000. Foundry Partners LLC boosted its stake in Old National Bancorp by 1.1% in the second quarter. Foundry Partners LLC now owns 283,843 shares of the bank’s stock valued at $4,198,000 after acquiring an additional 3,162 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Old National Bancorp by 35.8% in the second quarter. Los Angeles Capital Management LLC now owns 14,818 shares of the bank’s stock valued at $219,000 after acquiring an additional 3,910 shares in the last quarter. Ronald Blue Trust Inc. acquired a new stake in Old National Bancorp in the second quarter valued at approximately $66,000. Finally, Sei Investments Co. boosted its stake in Old National Bancorp by 16.4% in the second quarter. Sei Investments Co. now owns 881,682 shares of the bank’s stock valued at $13,074,000 after acquiring an additional 124,359 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Trading Up 1.2 %

NASDAQ ONB opened at $18.02 on Friday. The company has a market capitalization of $5.28 billion, a PE ratio of 17.00 and a beta of 0.85. The company has a fifty day moving average of $18.18 and a 200 day moving average of $17.63. Old National Bancorp has a 1 year low of $14.22 and a 1 year high of $20.19. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.83 and a quick ratio of 0.83.

Old National Bancorp (NASDAQ:ONBGet Rating) last posted its earnings results on Tuesday, October 25th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $461.92 million during the quarter, compared to the consensus estimate of $438.18 million. Old National Bancorp had a net margin of 19.71% and a return on equity of 10.06%. The firm’s quarterly revenue was up 120.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. Research analysts forecast that Old National Bancorp will post 1.97 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 3.11%. Old National Bancorp’s payout ratio is 52.83%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ONB. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Royal Bank of Canada lifted their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.67.

Old National Bancorp Profile

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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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