Short Interest in Old National Bancorp (NASDAQ:ONB) Decreases By 13.8%

Old National Bancorp (NASDAQ:ONB) was the target of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 17,433,745 shares, a decrease of 13.8% from the January 15th total of 20,219,954 shares. Currently, 4.5% of the company’s shares are sold short. Based on an average daily volume of 3,412,630 shares, the days-to-cover ratio is presently 5.1 days. Based on an average daily volume of 3,412,630 shares, the days-to-cover ratio is presently 5.1 days. Currently, 4.5% of the company’s shares are sold short.

Insider Transactions at Old National Bancorp

In other news, insider Nicholas J. Chulos sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the sale, the insider directly owned 20,438 shares of the company’s stock, valued at approximately $511,971.90. The trade was a 59.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Old National Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Carlson Capital L.P. increased its position in Old National Bancorp by 1.1% during the fourth quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock worth $848,000 after purchasing an additional 400 shares during the last quarter. Rothschild Investment LLC lifted its position in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Old National Bancorp by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock worth $1,232,000 after purchasing an additional 556 shares during the period. Securian Asset Management Inc. increased its holdings in Old National Bancorp by 2.3% in the 2nd quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock valued at $529,000 after purchasing an additional 565 shares in the last quarter. Finally, Glenmede Investment Management LP raised its position in Old National Bancorp by 1.0% in the third quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock valued at $1,362,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen raised Old National Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $27.00 to $30.00 in a research note on Thursday, January 22nd. Royal Bank Of Canada boosted their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. National Bank Financial set a $30.00 price objective on shares of Old National Bancorp in a research note on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Monday, December 29th. Finally, UBS Group reissued a “neutral” rating and issued a $26.00 price target on shares of Old National Bancorp in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.36.

Old National Bancorp Stock Up 0.1%

Shares of NASDAQ:ONB traded up $0.02 during trading hours on Tuesday, reaching $24.79. The stock had a trading volume of 1,094,274 shares, compared to its average volume of 2,959,971. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $26.17. The firm’s 50 day moving average is $23.62 and its 200-day moving average is $22.26. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.The firm had revenue of $714.50 million for the quarter, compared to analyst estimates of $705.62 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. Research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.