BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in Old National Bancorp $ONB

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 122,835 shares of the bank’s stock after selling 36,479 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Old National Bancorp were worth $2,696,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in Old National Bancorp by 7.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,799,932 shares of the bank’s stock valued at $61,459,000 after purchasing an additional 204,788 shares during the last quarter. Boston Partners raised its holdings in shares of Old National Bancorp by 0.9% in the second quarter. Boston Partners now owns 1,895,273 shares of the bank’s stock valued at $40,307,000 after buying an additional 17,033 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Old National Bancorp by 481.5% in the third quarter. Pacer Advisors Inc. now owns 60,480 shares of the bank’s stock valued at $1,328,000 after buying an additional 50,080 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Old National Bancorp by 863.6% during the second quarter. Y Intercept Hong Kong Ltd now owns 154,299 shares of the bank’s stock worth $3,293,000 after buying an additional 138,287 shares during the period. Finally, Accredited Investors Inc. grew its holdings in shares of Old National Bancorp by 20.7% during the third quarter. Accredited Investors Inc. now owns 450,040 shares of the bank’s stock worth $9,878,000 after buying an additional 77,145 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 1.3%

Shares of ONB stock opened at $25.88 on Friday. The business’s fifty day moving average price is $23.28 and its 200 day moving average price is $22.11. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $26.17. The firm has a market capitalization of $10.11 billion, a PE ratio of 14.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $714.50 million during the quarter, compared to the consensus estimate of $705.62 million. During the same quarter last year, the company earned $0.49 earnings per share. As a group, sell-side analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, December 5th. Old National Bancorp’s dividend payout ratio is presently 31.28%.

Wall Street Analyst Weigh In

Several analysts have commented on ONB shares. Royal Bank Of Canada upped their price objective on Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $26.00 target price (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Stephens increased their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. Finally, National Bankshares set a $30.00 price objective on shares of Old National Bancorp in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $27.36.

Insider Transactions at Old National Bancorp

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

Old National Bancorp Profile

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.