Old National Bancorp (NASDAQ:ONB) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its stake in shares of Old National Bancorp (NASDAQ:ONB) by 23.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 753,866 shares of the bank’s stock after selling 228,388 shares during the quarter. Invesco Ltd. owned 0.24% of Old National Bancorp worth $16,363,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Lee Danner & Bass Inc. purchased a new position in Old National Bancorp in the fourth quarter valued at $25,000. Empowered Funds LLC purchased a new stake in Old National Bancorp during the fourth quarter worth approximately $28,000. Versant Capital Management Inc increased its stake in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ONB. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays decreased their target price on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Raymond James cut their price target on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Stephens restated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.71.

Old National Bancorp Trading Up 0.7 %

NASDAQ:ONB opened at $19.59 on Monday. The stock’s 50 day simple moving average is $21.26 and its 200-day simple moving average is $21.47. Old National Bancorp has a 12-month low of $15.60 and a 12-month high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a market cap of $6.25 billion, a P/E ratio of 11.66 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the company posted $0.46 earnings per share. Equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio is presently 33.33%.

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.