Shell Asset Management Co. Sells 1,937 Shares of Old National Bancorp (NASDAQ:ONB)

Shell Asset Management Co. lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 21.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,294 shares of the bank’s stock after selling 1,937 shares during the quarter. Shell Asset Management Co.’s holdings in Old National Bancorp were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Old National Bancorp by 5.1% during the third quarter. Comerica Bank now owns 253,244 shares of the bank’s stock valued at $4,644,000 after acquiring an additional 12,299 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Old National Bancorp by 54.6% in the third quarter. Quadrant Capital Group LLC now owns 2,238 shares of the bank’s stock worth $37,000 after purchasing an additional 790 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Old National Bancorp in the second quarter worth $176,000. Los Angeles Capital Management LLC raised its holdings 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 worth $219,000 after purchasing an additional 3,910 shares in the last quarter. Finally, Ronald Blue Trust Inc. bought a new position in Old National Bancorp in the second quarter worth $66,000. Institutional investors own 76.41% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Old National Bancorp presently has an average rating of “Moderate Buy” and an average target price of $21.67.

Insider Activity

In other news, Chairman Michael L. Scudder sold 9,308 shares of Old National Bancorp stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $17.75, for a total transaction of $165,217.00. Following the transaction, the chairman now directly owns 204,297 shares of the company’s stock, valued at approximately $3,626,271.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Michael L. Scudder sold 9,308 shares of Old National Bancorp stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $17.75, for a total transaction of $165,217.00. Following the transaction, the chairman now directly owns 204,297 shares of the company’s stock, valued at approximately $3,626,271.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Michael L. Scudder sold 50,000 shares of Old National Bancorp stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $17.90, for a total value of $895,000.00. Following the transaction, the chairman now directly owns 290,796 shares in the company, valued at $5,205,248.40. The disclosure for this sale can be found here. Insiders have sold a total of 84,308 shares of company stock valued at $1,510,217 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Old National Bancorp Trading Down 0.9 %

Old National Bancorp stock opened at $17.51 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.86. Old National Bancorp has a one year low of $14.22 and a one year high of $20.19. The stock has a market capitalization of $5.13 billion, a PE ratio of 12.60 and a beta of 0.85. The business’s fifty day moving average is $17.85 and its 200 day moving average is $17.90.

Old National Bancorp (NASDAQ:ONB – Get Rating) last announced its earnings results on Tuesday, January 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $622.86 million during the quarter, compared to analysts’ expectations of $471.30 million. Old National Bancorp had a return on equity of 11.30% and a net margin of 23.10%. During the same period in the previous year, the business posted $0.34 earnings per share. On average, sell-side analysts predict that Old National Bancorp will post 2.16 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.56 annualized dividend and a yield of 3.20%. Old National Bancorp’s payout ratio is 40.29%.

Old National Bancorp Profile

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Old National Bancorp operates as a financial holding company. It engages in the provision of financial and banking solutions. The firm’s Community Banking segment provides commercial, real estate and consumer loans, time deposits, checking and savings accounts, cash management, brokerage, trust and investment advisory services.