Old National Bancorp (NASDAQ:ONB) Hits New 52-Week Low at $14.06

Old National Bancorp (NASDAQ:ONB – Get Rating) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $14.06 and last traded at $14.13, with a volume of 200843 shares. The stock had previously closed at $14.59.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ONB shares. UBS Group began coverage on shares of Old National Bancorp in a research note on Wednesday. They issued a “neutral” rating and a $16.00 price objective for the company. StockNews.com began coverage on Old National Bancorp in a research report on Thursday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.25.

Old National Bancorp Stock Down 4.2 %

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.93. The firm has a market cap of $4.22 billion, a P/E ratio of 10.35 and a beta of 0.84. The stock’s fifty day moving average is $17.47 and its two-hundred day moving average is $17.77.

Old National Bancorp (NASDAQ:ONB – Get Rating) last released its quarterly earnings results on Tuesday, January 24th. The bank reported $0.56 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 firm had revenue of $622.86 million for the quarter, compared to analysts’ expectations of $471.30 million. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, research analysts anticipate that Old National Bancorp will post 2.16 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Tuesday, February 28th. Old National Bancorp’s payout ratio is 40.29%.

Insider Buying and Selling

In related news, Chairman Michael L. Scudder sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was 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 in the company, valued at $4,784,328. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Chairman Michael L. Scudder sold 9,308 shares of the business’s 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 completion of the transaction, 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 available through this link. Also, Chairman Michael L. Scudder sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $18.00, for a total value of $450,000.00. Following the completion of the transaction, the chairman now owns 265,796 shares of the company’s stock, valued at $4,784,328. The disclosure for this sale can be found here. Insiders sold a total of 84,308 shares of company stock worth $1,510,217 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old National Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Old National Bancorp by 50.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,603 shares of the bank’s stock worth $26,000 after purchasing an additional 534 shares in the last quarter. Group One Trading L.P. boosted its holdings in shares of Old National Bancorp by 472.0% in the 3rd quarter. Group One Trading L.P. now owns 1,836 shares of the bank’s stock worth $30,000 after purchasing an additional 1,515 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Old National Bancorp in the 4th quarter worth about $34,000. Quadrant Capital Group LLC boosted its holdings in shares of Old National Bancorp by 54.6% in the 3rd 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. Finally, Money Concepts Capital Corp purchased a new position in shares of Old National Bancorp in the 4th quarter worth about $39,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Company 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.