American Century Companies Inc. Cuts Stock Position in Old National Bancorp $ONB

American Century Companies Inc. trimmed its position in shares of Old National Bancorp (NASDAQ:ONB) by 23.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,627,229 shares of the bank’s stock after selling 3,004,258 shares during the quarter. American Century Companies Inc. owned 2.46% of Old National Bancorp worth $211,318,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ONB. Norges Bank purchased a new position in shares of Old National Bancorp in the second quarter valued at approximately $79,396,000. Vanguard Group Inc. lifted its holdings in Old National Bancorp by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after buying an additional 3,379,577 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Old National Bancorp by 439.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,595,144 shares of the bank’s stock valued at $55,380,000 after buying an additional 2,114,266 shares during the period. Algebris UK Ltd. acquired a new position in shares of Old National Bancorp in the third quarter worth $25,622,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Old National Bancorp by 2,938.2% during the second quarter. Qube Research & Technologies Ltd now owns 1,025,789 shares of the bank’s stock worth $21,890,000 after acquiring an additional 992,026 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on ONB shares. TD Cowen upgraded Old National Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $27.00 to $30.00 in a report on Thursday, January 22nd. Citigroup increased their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday. Stephens boosted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada upped their target price on shares of Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. Finally, UBS Group reiterated a “neutral” rating and issued a $26.00 price target on shares of Old National Bancorp in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.45.

Insider Activity

In other news, insider Nicholas J. Chulos sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total transaction 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 represents a 59.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by insiders.

Old National Bancorp Price Performance

ONB opened at $23.10 on Friday. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $26.17. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 12.91 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $23.89 and a 200 day simple moving average of $22.48.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $698.53 million during the quarter, compared to analysts’ expectations of $705.62 million. Old National Bancorp had a net margin of 17.91% and a return on equity of 10.75%. During the same period in the prior year, the company posted $0.49 EPS. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.145 per share. The ex-dividend date is Tuesday, May 5th. This represents a $0.58 annualized dividend and a yield of 2.5%. Old National Bancorp’s payout ratio is currently 31.28%.

Old National Bancorp 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.