Insider Selling: Old National Bancorp (ONB) Insider Sells 5,531 Shares of Stock
Old National Bancorp (NASDAQ:ONB) insider John R. Kamin sold 5,531 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
John R. Kamin also recently made the following trade(s):
- On Monday, July 17th, John R. Kamin sold 7,332 shares of Old National Bancorp stock. The stock was sold at an average price of $17.03, for a total value of $124,863.96.
Old National Bancorp (NASDAQ:ONB) traded down 0.60% during trading on Tuesday, reaching $16.70. The company’s stock had a trading volume of 613,784 shares. The firm’s 50-day moving average is $16.82 and its 200-day moving average is $17.14. The stock has a market cap of $2.26 billion, a P/E ratio of 15.86 and a beta of 1.10. Old National Bancorp has a 52-week low of $13.49 and a 52-week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The company had revenue of $153.60 million during the quarter, compared to analysts’ expectations of $153.57 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Equities research analysts forecast that Old National Bancorp will post $1.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, August 30th. Old National Bancorp’s dividend payout ratio is presently 49.52%.
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Large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Old National Bancorp by 2.4% in the first quarter. Wells Fargo & Company MN now owns 200,753 shares of the bank’s stock worth $3,482,000 after buying an additional 4,640 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of Old National Bancorp by 25.2% in the first quarter. North Star Investment Management Corp. now owns 6,077 shares of the bank’s stock worth $105,000 after buying an additional 1,225 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in shares of Old National Bancorp during the first quarter worth about $313,000. Sit Investment Associates Inc. boosted its stake in shares of Old National Bancorp by 227.2% in the first quarter. Sit Investment Associates Inc. now owns 24,050 shares of the bank’s stock worth $417,000 after buying an additional 16,700 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Old National Bancorp by 4.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 71,645 shares of the bank’s stock worth $1,243,000 after buying an additional 3,275 shares in the last quarter. Institutional investors own 71.26% of the company’s stock.
ONB has been the subject of several recent analyst reports. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Sunday, June 11th. BidaskClub upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $18.00 target price on shares of Old National Bancorp in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.30.
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. The Company focuses on community banking.
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