First Trust Advisors LP Has $8.95 Million Position in Old National Bancorp (ONB)
First Trust Advisors LP trimmed its position in shares of Old National Bancorp (NASDAQ:ONB) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 489,290 shares of the bank’s stock after selling 53,708 shares during the period. First Trust Advisors LP owned about 0.36% of Old National Bancorp worth $8,954,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new position in Old National Bancorp during the 3rd quarter valued at about $223,000. Adviser Investments LLC bought a new position in Old National Bancorp in the 3rd quarter worth about $212,000. Taylor Cottrill Erickson & Associates Inc. grew its stake in Old National Bancorp by 16.1% in the 3rd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 66,975 shares of the bank’s stock worth $1,226,000 after acquiring an additional 9,275 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Old National Bancorp in the 3rd quarter worth about $6,411,000. Finally, Koch Industries Inc. bought a new position in Old National Bancorp in the 2nd quarter worth about $527,000. Institutional investors own 71.70% of the company’s stock.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.56, for a total transaction of $91,593.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.79% of the stock is owned by insiders.
A number of brokerages have commented on ONB. BidaskClub downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Boenning Scattergood set a $21.00 price objective on shares of Old National Bancorp and gave the company a “buy” rating in a research note on Thursday, October 26th. Raymond James Financial, Inc. upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research note on Tuesday, September 19th. UBS AG upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 19th. Finally, Zacks Investment Research downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.92.
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Shares of Old National Bancorp (ONB) opened at $16.95 on Friday. The company has a market cap of $2,297.11, a price-to-earnings ratio of 14.61 and a beta of 1.04. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 52-week low of $15.21 and a 52-week high of $18.95.
Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, October 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Old National Bancorp had a net margin of 21.61% and a return on equity of 8.39%. The business had revenue of $154.84 million for the quarter, compared to analyst estimates of $152.48 million. During the same quarter last year, the business earned $0.25 earnings per share. equities analysts expect that Old National Bancorp will post 1.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, November 30th. Old National Bancorp’s dividend payout ratio (DPR) is presently 47.71%.
Old National Bancorp 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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