FJ Capital Management LLC Sells 60,208 Shares of Old National Bancorp $ONB

FJ Capital Management LLC trimmed its position in shares of Old National Bancorp (NASDAQ:ONB) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,018 shares of the bank’s stock after selling 60,208 shares during the period. Old National Bancorp accounts for 1.8% of FJ Capital Management LLC’s portfolio, making the stock its 18th largest holding. FJ Capital Management LLC owned 0.18% of Old National Bancorp worth $15,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Old National Bancorp by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock valued at $808,047,000 after acquiring an additional 3,379,577 shares during the last quarter. Norges Bank bought a new stake in Old National Bancorp in the 4th quarter valued at $72,661,000. Morgan Stanley increased its holdings in Old National Bancorp by 69.8% in the 4th quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock valued at $151,189,000 after acquiring an additional 2,785,474 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Old National Bancorp by 104.6% in the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after buying an additional 2,672,319 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Old National Bancorp by 65.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,956,160 shares of the bank’s stock worth $110,572,000 after buying an additional 1,966,958 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ONB. Jefferies Financial Group boosted their target price on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. Barclays boosted their target price on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Stephens boosted their target price on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Citigroup boosted their target price on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Price Performance

ONB stock opened at $25.14 on Friday. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $26.17. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $23.74 and a 200 day moving average price of $23.33. The stock has a market cap of $9.71 billion, a PE ratio of 12.96 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. During the same period in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 44.4% compared to the same quarter last year. Equities research analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.3%. Old National Bancorp’s payout ratio is currently 29.90%.

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.