Clarkston Capital Partners LLC Sells 25,123 Shares of Old National Bancorp $ONB

Clarkston Capital Partners LLC trimmed its position in Old National Bancorp (NASDAQ:ONB) by 67.3% in the 4th quarter, Holdings Channel reports. The firm owned 12,230 shares of the bank’s stock after selling 25,123 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Old National Bancorp were worth $273,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Old National Bancorp by 0.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 748,016 shares of the bank’s stock valued at $16,688,000 after purchasing an additional 4,464 shares during the period. Wells Fargo & Company MN boosted its holdings in Old National Bancorp by 37.7% in the 4th quarter. Wells Fargo & Company MN now owns 479,386 shares of the bank’s stock valued at $10,695,000 after purchasing an additional 131,271 shares during the period. CI Investments Inc. boosted its holdings in Old National Bancorp by 4.7% in the 4th quarter. CI Investments Inc. now owns 18,736 shares of the bank’s stock valued at $418,000 after purchasing an additional 844 shares during the period. Federation des caisses Desjardins du Quebec boosted its holdings in Old National Bancorp by 22.1% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 27,120 shares of the bank’s stock valued at $605,000 after purchasing an additional 4,916 shares during the period. Finally, DRW Securities LLC boosted its holdings in Old National Bancorp by 51.9% in the 4th quarter. DRW Securities LLC now owns 38,896 shares of the bank’s stock valued at $868,000 after purchasing an additional 13,297 shares during the period. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ONB. Citigroup raised their price target on shares of Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Truist Financial lifted their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Stephens lifted 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. Keefe, Bruyette & Woods lifted 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. Finally, Barclays lifted 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. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.91.

Old National Bancorp Stock Performance

NASDAQ ONB opened at $25.14 on Friday. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $26.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market capitalization of $9.71 billion, a P/E ratio of 12.96 and a beta of 0.84. The company has a fifty day moving average of $23.74 and a 200-day moving average of $23.33.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The company had revenue of $702.70 million during the quarter, compared to the consensus estimate of $706.62 million. During the same period in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 44.4% compared to the same quarter last year. As a group, equities research analysts predict that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Old National Bancorp Company 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.