SG Americas Securities LLC Decreases Stock Holdings in Old National Bancorp (NASDAQ:ONB)

SG Americas Securities LLC reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 93.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,054 shares of the bank’s stock after selling 124,160 shares during the period. SG Americas Securities LLC’s holdings in Old National Bancorp were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Old National Bancorp by 37.6% during the first quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock valued at $546,744,000 after buying an additional 9,124,230 shares during the last quarter. Vanguard Group Inc. increased its holdings in Old National Bancorp by 2.3% during the third quarter. Vanguard Group Inc. now owns 30,592,620 shares of the bank’s stock valued at $503,862,000 after buying an additional 678,451 shares during the last quarter. State Street Corp increased its holdings in Old National Bancorp by 54.9% during the first quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock valued at $252,638,000 after buying an additional 5,465,409 shares during the last quarter. American Century Companies Inc. increased its holdings in Old National Bancorp by 2.9% during the third quarter. American Century Companies Inc. now owns 11,063,412 shares of the bank’s stock valued at $160,862,000 after buying an additional 308,892 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Old National Bancorp by 4.2% during the first quarter. Geode Capital Management LLC now owns 5,872,351 shares of the bank’s stock valued at $84,679,000 after buying an additional 235,236 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $15.69 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a fifty day moving average price of $16.45 and a 200 day moving average price of $15.83. Old National Bancorp has a fifty-two week low of $11.66 and a fifty-two week high of $17.64. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 8.09 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Old National Bancorp had a return on equity of 12.04% and a net margin of 22.91%. The company had revenue of $689.85 million for the quarter, compared to the consensus estimate of $448.87 million. During the same quarter in the prior year, the company posted $0.56 EPS. As a group, sell-side analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.57%. Old National Bancorp’s dividend payout ratio (DPR) is currently 28.87%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group reduced their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 9th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Barclays started coverage on shares of Old National Bancorp in a research note on Friday, March 8th. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $18.71.

Old National Bancorp 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.