Old National Bancorp (NASDAQ:ONB) Short Interest Update

Old National Bancorp (NASDAQ:ONB) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 17,433,745 shares, a decrease of 13.8% from the January 15th total of 20,219,954 shares. Approximately 4.5% of the company’s stock are sold short. Based on an average daily volume of 3,412,630 shares, the short-interest ratio is currently 5.1 days. Based on an average daily volume of 3,412,630 shares, the short-interest ratio is currently 5.1 days. Approximately 4.5% of the company’s stock are sold short.

Analyst Ratings Changes

ONB has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $26.00 price target (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Royal Bank Of Canada lifted their price objective on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, January 22nd. National Bank Financial set a $30.00 price target on Old National Bancorp in a research note on Thursday, January 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a report on Monday, December 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a research report on Wednesday, February 4th. One 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’s stock. Based on data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and an average target price of $27.36.

Old National Bancorp Price Performance

ONB opened at $24.91 on Thursday. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17. The firm has a 50-day moving average of $23.71 and a 200 day moving average of $22.31. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $9.73 billion, a P/E ratio of 13.92 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last released its earnings results 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. Old National Bancorp had a net margin of 17.91% and a return on equity of 15.06%. The firm had revenue of $714.50 million for the quarter, compared to analysts’ expectations of $705.62 million. During the same period in the previous year, the company earned $0.49 earnings per share. On average, research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Insiders Place Their Bets

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of the company’s 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 owned 20,438 shares of the company’s stock, valued at $511,971.90. This represents a 59.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of Old National Bancorp

A number of large investors have recently bought and sold shares of ONB. Carlson Capital L.P. grew its stake in shares of Old National Bancorp by 1.1% during the 4th quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock worth $848,000 after acquiring an additional 400 shares during the period. Rothschild Investment LLC lifted its holdings in Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after purchasing an additional 535 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Old National Bancorp by 1.0% during the second quarter. Nisa Investment Advisors LLC now owns 57,711 shares of the bank’s stock valued at $1,232,000 after purchasing an additional 556 shares during the last quarter. Securian Asset Management Inc. boosted its position in Old National Bancorp by 2.3% during the second quarter. Securian Asset Management Inc. now owns 24,791 shares of the bank’s stock worth $529,000 after purchasing an additional 565 shares during the period. Finally, Glenmede Investment Management LP increased its stake in shares of Old National Bancorp by 1.0% in the third quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock worth $1,362,000 after purchasing an additional 625 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

About Old National Bancorp

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.