Leeward Investments LLC MA Sells 36,609 Shares of Old National Bancorp $ONB

Leeward Investments LLC MA lowered its position in Old National Bancorp (NASDAQ:ONB) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 955,572 shares of the bank’s stock after selling 36,609 shares during the quarter. Old National Bancorp accounts for about 1.1% of Leeward Investments LLC MA’s investment portfolio, making the stock its 20th biggest holding. Leeward Investments LLC MA’s holdings in Old National Bancorp were worth $20,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of Old National Bancorp in the first quarter worth $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Old National Bancorp during the first quarter valued at about $51,000. Signaturefd LLC grew its holdings in Old National Bancorp by 22.7% during the second quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after purchasing an additional 609 shares during the period. GAMMA Investing LLC grew its holdings in Old National Bancorp by 44.0% during the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank’s stock valued at $127,000 after purchasing an additional 1,837 shares during the period. Finally, NorthRock Partners LLC bought a new stake in Old National Bancorp during the second quarter valued at about $205,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

NASDAQ:ONB opened at $21.05 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $8.25 billion, a P/E ratio of 12.31 and a beta of 0.85. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49. The business’s 50-day moving average is $21.94 and its 200 day moving average is $21.44.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, February 1st. The bank reported $0.46 EPS for the quarter. The company had revenue of $222.80 million for the quarter. Old National Bancorp had a return on equity of 14.95% and a net margin of 17.39%. On average, equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old National Bancorp’s payout ratio is presently 32.75%.

Wall Street Analyst Weigh In

ONB has been the subject of several recent research 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. TD Cowen assumed coverage on Old National Bancorp in a report on Thursday, September 25th. They set a “hold” rating and a $25.00 price target for the company. Truist Financial lowered their price objective on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays set a $29.00 price objective on Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.18.

Old National Bancorp Company Profile

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.