Old National Bancorp (NASDAQ:ONB) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,843 shares of the bank’s stock after selling 4,994 shares during the quarter. Franklin Resources Inc.’s holdings in Old National Bancorp were worth $2,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its holdings in shares of Old National Bancorp by 1.4% in the fourth quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank’s stock valued at $762,000 after acquiring an additional 432 shares during the period. Versant Capital Management Inc boosted its stake in Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after purchasing an additional 615 shares during the period. CIBC Private Wealth Group LLC grew its position in Old National Bancorp by 3.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank’s stock worth $356,000 after purchasing an additional 615 shares during the last quarter. Stifel Financial Corp increased its stake in Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after purchasing an additional 648 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after buying an additional 663 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $18.68 on Monday. The firm’s fifty day simple moving average is $21.74 and its 200-day simple moving average is $21.42. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $5.96 billion, a PE ratio of 11.12 and a beta of 0.82. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same quarter last year, the company earned $0.46 EPS. Analysts expect that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 3.00%. Old National Bancorp’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ONB. Royal Bank of Canada restated a “sector perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James cut their price target on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. Barclays lowered their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.71.

Old National Bancorp Company 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.