Thrivent Financial for Lutherans Sells 28,119 Shares of Old National Bancorp $ONB

Thrivent Financial for Lutherans decreased its position in Old National Bancorp (NASDAQ:ONB) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,771,813 shares of the bank’s stock after selling 28,119 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Old National Bancorp were worth $61,839,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ONB. Vanguard Group Inc. grew its holdings in shares of Old National Bancorp by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after purchasing an additional 3,379,577 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Old National Bancorp by 104.6% in the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after purchasing an additional 2,672,319 shares during the last quarter. Algebris UK Ltd. bought a new stake in Old National Bancorp during the 3rd quarter worth about $25,622,000. Verition Fund Management LLC grew its holdings in Old National Bancorp by 51.3% during the 3rd quarter. Verition Fund Management LLC now owns 3,156,744 shares of the bank’s stock worth $69,291,000 after acquiring an additional 1,070,282 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Old National Bancorp during the 4th quarter worth about $22,495,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Stephens increased their price objective on shares of Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Barclays increased their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. UBS Group reissued a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a report on Wednesday, February 4th. Finally, TD Cowen raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $30.00 in a report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Stock Down 1.3%

Shares of NASDAQ ONB opened at $23.29 on Friday. The firm has a market capitalization of $9.00 billion, a PE ratio of 12.01 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.89. Old National Bancorp has a 1 year low of $19.39 and a 1 year high of $26.17. The firm’s 50-day moving average is $22.87 and its 200-day moving average is $22.85.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $702.70 million for the quarter, compared to analyst estimates of $706.62 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. Equities analysts expect that Old National Bancorp will post 2.58 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is 29.90%.

Old National Bancorp Profile

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.