Nicholas Chulos Sells 30,000 Shares of Old National Bancorp (NASDAQ:ONB) Stock

Old National Bancorp (NASDAQ:ONB) insider Nicholas Chulos sold 30,000 shares of the stock in a transaction 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Old National Bancorp Trading Up 1.3%

NASDAQ ONB opened at $25.88 on Friday. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $26.17. The stock has a 50-day simple moving average of $23.28 and a 200 day simple moving average of $22.11. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $10.11 billion, a PE ratio of 14.46 and a beta of 0.84.

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

Old National Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on ONB. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating and issued a $26.00 price target (down from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Royal Bank Of Canada raised their price target on Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. Truist Financial boosted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, UBS Group reissued a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $27.36.

Institutional Investors Weigh In On Old National Bancorp

Several institutional investors have recently bought and sold shares of the company. Carlson Capital L.P. raised its holdings in shares of Old National Bancorp by 1.1% in the fourth quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock valued at $848,000 after purchasing an additional 400 shares during the last quarter. Rothschild Investment LLC increased its stake in Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Old National Bancorp by 1.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after buying an additional 556 shares during the last quarter. Securian Asset Management Inc. lifted its position in Old National Bancorp by 2.3% during the 2nd quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock worth $529,000 after buying an additional 565 shares in the last quarter. Finally, Glenmede Investment Management LP boosted its stake in shares of Old National Bancorp by 1.0% during the 3rd quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock worth $1,362,000 after buying an additional 625 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Company 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.