Robert G. Jones Sells 20,008 Shares of Old National Bancorp (ONB) Stock
Old National Bancorp (NASDAQ:ONB) Chairman Robert G. Jones sold 20,008 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $17.42, for a total value of $348,539.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Old National Bancorp (NASDAQ:ONB) opened at 16.90 on Wednesday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.79 and a beta of 1.07. The firm has a 50 day moving average price of $15.23 and a 200 day moving average price of $13.77. Old National Bancorp has a 52 week low of $10.69 and a 52 week high of $17.60.
Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Monday, October 31st. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Old National Bancorp had a return on equity of 7.62% and a net margin of 19.79%. During the same period in the previous year, the company posted $0.26 EPS. Equities research analysts predict that Old National Bancorp will post $1.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, November 29th. Old National Bancorp’s dividend payout ratio is currently 48.60%.
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A number of hedge funds have recently bought and sold shares of ONB. Bank of Montreal Can acquired a new stake in Old National Bancorp during the second quarter valued at approximately $2,703,000. New York State Teachers Retirement System boosted its stake in Old National Bancorp by 2.6% in the second quarter. New York State Teachers Retirement System now owns 306,934 shares of the company’s stock valued at $3,846,000 after buying an additional 7,765 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Old National Bancorp by 62.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 69,470 shares of the company’s stock valued at $870,000 after buying an additional 26,755 shares in the last quarter. Foundry Partners LLC boosted its stake in Old National Bancorp by 2,602.5% in the second quarter. Foundry Partners LLC now owns 867,437 shares of the company’s stock valued at $10,869,000 after buying an additional 835,340 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Old National Bancorp by 1.1% in the second quarter. Capstone Asset Management Co. now owns 29,146 shares of the company’s stock valued at $365,000 after buying an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.
Several brokerages have recently weighed in on ONB. Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $13.00 to $13.50 and gave the stock a “market perform” rating in a research report on Tuesday, August 2nd. Hovde Group started coverage on Old National Bancorp in a research report on Wednesday, August 3rd. They set a “market perform” rating and a $14.00 price target on the stock. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Old National Bancorp in a research report on Tuesday, November 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Old National Bancorp from a “sell” rating to a “hold” rating and set a $16.00 price target on the stock in a research report on Thursday, November 3rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.71.
Old National Bancorp Company Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
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