Raymond James & Associates Purchases 11,443 Shares of Old National Bancorp (NASDAQ:ONB)

Raymond James & Associates lifted its holdings in Old National Bancorp (NASDAQ:ONB) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 289,819 shares of the bank’s stock after purchasing an additional 11,443 shares during the quarter. Raymond James & Associates’ holdings in Old National Bancorp were worth $4,982,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Old National Bancorp by 357.0% during the second quarter. Blue Trust Inc. now owns 22,829 shares of the bank’s stock worth $397,000 after acquiring an additional 17,834 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Old National Bancorp by 188.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock valued at $885,000 after purchasing an additional 33,615 shares during the last quarter. Diversified Trust Co purchased a new stake in Old National Bancorp during the 2nd quarter valued at $433,000. Sequoia Financial Advisors LLC lifted its position in Old National Bancorp by 10.6% in the second quarter. Sequoia Financial Advisors LLC now owns 19,100 shares of the bank’s stock worth $328,000 after buying an additional 1,823 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in Old National Bancorp during the second quarter worth $272,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Stock Up 0.4 %

Shares of NASDAQ ONB opened at $19.64 on Friday. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $20.43. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 10.62 and a beta of 0.83. The stock has a 50 day moving average price of $18.40 and a 200 day moving average price of $17.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $750.93 million for the quarter, compared to the consensus estimate of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same quarter last year, the firm posted $0.54 EPS. Sell-side analysts expect that Old National Bancorp will post 1.85 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, September 5th. Old National Bancorp’s payout ratio is 30.27%.

Insider Buying and Selling

In other news, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $15.90, for a total value of $272,923.50. Following the sale, the chief executive officer now directly owns 50,001 shares in the company, valued at approximately $795,015.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the transaction, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total value of $272,923.50. Following the completion of the sale, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at approximately $795,015.90. The disclosure for this sale can be found here. Insiders sold 62,165 shares of company stock worth $1,168,424 in the last three months. 1.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ONB. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Royal Bank of Canada boosted their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Hovde Group started coverage on Old National Bancorp in a research note on Monday, June 3rd. They set an “outperform” rating and a $20.00 price target for the company. Finally, Barclays upped their price objective on Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.63.

Old National Bancorp Profile

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, agricultural loans, letters of credit, and lease financing.