Commonwealth Equity Services LLC Sells 17,895 Shares of Old National Bancorp (NASDAQ:ONB)

Commonwealth Equity Services LLC lessened its position in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 13.9% in the third quarter, HoldingsChannel.com reports. The fund owned 110,521 shares of the bank’s stock after selling 17,895 shares during the period. Commonwealth Equity Services LLC’s holdings in Old National Bancorp were worth $1,820,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Raymond James & Associates increased its holdings in shares of Old National Bancorp by 579.7% during the first quarter. Raymond James & Associates now owns 107,774 shares of the bank’s stock worth $1,765,000 after buying an additional 91,918 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Old National Bancorp by 16.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,494 shares of the bank’s stock worth $598,000 after purchasing an additional 5,032 shares in the last quarter. US Bancorp DE raised its position in Old National Bancorp by 420.6% in the first quarter. US Bancorp DE now owns 42,408 shares of the bank’s stock valued at $696,000 after purchasing an additional 34,262 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in shares of Old National Bancorp by 34.5% during the first quarter. Cetera Advisor Networks LLC now owns 14,433 shares of the bank’s stock valued at $236,000 after purchasing an additional 3,701 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Old National Bancorp by 97.7% during the first quarter. Rhumbline Advisers now owns 953,125 shares of the bank’s stock worth $15,612,000 after purchasing an additional 470,904 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, Chairman Michael L. Scudder sold 9,308 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $17.75, for a total transaction of $165,217.00. Following the completion of the sale, the chairman now directly owns 204,297 shares in the company, valued at $3,626,271.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Michael L. Scudder sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $18.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chairman now directly owns 265,796 shares of the company’s stock, valued at $4,784,328. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael L. Scudder sold 9,308 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $17.75, for a total value of $165,217.00. Following the completion of the sale, the chairman now directly owns 204,297 shares in the company, valued at $3,626,271.75. The disclosure for this sale can be found here. Insiders have sold 84,308 shares of company stock worth $1,510,217 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Old National Bancorp Stock Down 4.0 %

Shares of NASDAQ ONB opened at $15.32 on Tuesday. The business’s fifty day moving average price is $17.69 and its 200-day moving average price is $17.84. 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 $4.49 billion, a PE ratio of 11.02 and a beta of 0.84.

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

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, February 28th. Old National Bancorp’s dividend payout ratio is currently 40.29%.

About Old National Bancorp

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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.