Old National Bancorp (NASDAQ:ONB) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its position in Old National Bancorp (NASDAQ:ONB) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,113 shares of the bank’s stock after selling 690 shares during the period. Securian Asset Management Inc.’s holdings in Old National Bancorp were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC raised its position in shares of Old National Bancorp by 1.4% in the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after buying an additional 432 shares during the last quarter. Studio Investment Management LLC raised its position in shares of Old National Bancorp by 2.6% in the third quarter. Studio Investment Management LLC now owns 20,803 shares of the bank’s stock valued at $388,000 after buying an additional 524 shares during the last quarter. Versant Capital Management Inc grew its holdings in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after purchasing an additional 615 shares during the period. Stifel Financial Corp grew its holdings in Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after purchasing an additional 648 shares during the period. Finally, UMB Bank n.a. grew its holdings in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Barclays boosted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Stephens restated an “overweight” rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Raymond James restated a “strong-buy” rating and issued a $29.00 target price (up from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.29.

Old National Bancorp Price Performance

ONB opened at $21.12 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49. The company has a 50 day moving average of $22.82 and a two-hundred day moving average of $21.26. The company has a market cap of $6.74 billion, a P/E ratio of 12.57 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.65%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Old National Bancorp Company 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.