Old National Bancorp (NASDAQ:ONB) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 57.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,881 shares of the bank’s stock after selling 20,119 shares during the period. Carret Asset Management LLC’s holdings in Old National Bancorp were worth $256,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ONB. GAMMA Investing LLC raised its holdings in Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock worth $26,000 after buying an additional 1,005 shares during the period. Rise Advisors LLC purchased a new position in shares of Old National Bancorp in the first quarter worth approximately $28,000. LRI Investments LLC acquired a new stake in shares of Old National Bancorp during the first quarter valued at approximately $48,000. First Financial Corp IN lifted its position in shares of Old National Bancorp by 176.8% in the 2nd quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock valued at $105,000 after acquiring an additional 3,887 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after purchasing an additional 1,020 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Chady M. Alahmar sold 17,165 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at $795,015.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Chady M. Alahmar sold 17,165 shares of the 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 completion of the transaction, the chief executive officer now owns 50,001 shares of the company’s stock, valued at $795,015.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,165 shares of company stock worth $1,168,424. 1.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Old National Bancorp Trading Up 1.1 %

Shares of NASDAQ:ONB opened at $19.85 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s 50-day moving average is $18.53 and its 200-day moving average is $17.29. The company has a market cap of $6.33 billion, a P/E ratio of 10.73 and a beta of 0.83. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $20.43.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same period in the prior year, the business earned $0.54 earnings per share. Equities research analysts predict that Old National Bancorp will post 1.85 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.56 annualized dividend and a yield of 2.82%. Old National Bancorp’s dividend payout ratio (DPR) is 30.27%.

About Old National Bancorp

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.