Old National Bancorp (NASDAQ:ONB) Shares Acquired by LPL Financial LLC

Posted by MarketBeat News on May 26th, 2023

LPL Financial LLC lifted its holdings in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,630 shares of the bank’s stock after buying an additional 1,417 shares during the period. LPL Financial LLC’s holdings in Old National Bancorp were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ONB. Raymond James & Associates lifted its position in Old National Bancorp by 579.7% in the first quarter. Raymond James & Associates now owns 107,774 shares of the bank’s stock worth $1,765,000 after purchasing an additional 91,918 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Old National Bancorp by 16.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,494 shares of the bank’s stock valued at $598,000 after acquiring an additional 5,032 shares during the last quarter. US Bancorp DE lifted its position in shares of Old National Bancorp by 420.6% during the 1st quarter. US Bancorp DE now owns 42,408 shares of the bank’s stock valued at $696,000 after acquiring an additional 34,262 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Old National Bancorp by 34.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 14,433 shares of the bank’s stock valued at $236,000 after acquiring an additional 3,701 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Old National Bancorp by 97.7% during the 1st quarter. Rhumbline Advisers now owns 953,125 shares of the bank’s stock valued at $15,612,000 after acquiring an additional 470,904 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 1.7 %

NASDAQ ONB opened at $12.74 on Friday. Old National Bancorp has a 1-year low of $11.66 and a 1-year high of $20.19. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $3.73 billion, a PE ratio of 6.34 and a beta of 0.81. The firm’s fifty day simple moving average is $13.45 and its 200-day simple moving average is $16.33.

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Old National Bancorp (NASDAQ:ONB – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The bank reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Old National Bancorp had a net margin of 28.42% and a return on equity of 12.73%. The business had revenue of $457.84 million for the quarter, compared to the consensus estimate of $456.00 million. During the same period in the prior year, the business posted $0.40 earnings per share. Old National Bancorp’s revenue for the quarter was up 56.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old National Bancorp will post 2.06 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Wednesday, May 31st. Old National Bancorp’s dividend payout ratio (DPR) is presently 27.86%.

Insider Buying and Selling

In other Old National Bancorp news, EVP John V. Moran acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was purchased at an average cost of $19.85 per share, for a total transaction of $49,625.00. Following the completion of the acquisition, the executive vice president now owns 2,500 shares of the company’s stock, valued at approximately $49,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Old National Bancorp news, CEO James C. Ryan III acquired 8,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average cost of $12.22 per share, for a total transaction of $100,204.00. Following the completion of the acquisition, the chief executive officer now owns 625,066 shares of the company’s stock, valued at approximately $7,638,306.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John V. Moran purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were purchased at an average price of $19.85 per share, with a total value of $49,625.00. Following the completion of the acquisition, the executive vice president now directly owns 2,500 shares of the company’s stock, valued at $49,625. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 23,200 shares of company stock worth $317,679. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

ONB has been the subject of a number of recent research reports. StockNews.com initiated coverage on Old National Bancorp in a research report on Thursday, May 18th. They set a “sell” rating for the company. UBS Group started coverage on Old National Bancorp in a research report on Wednesday, March 15th. They set a “neutral” rating and a $16.00 price objective for the company. TheStreet downgraded shares of Old National Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, May 5th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Old National Bancorp from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.

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.