Insider Selling: Old National Bancorp (NASDAQ:ONB) CFO Sells 49,375 Shares of Stock

Old National Bancorp (NASDAQ:ONB) CFO Brendon B. Falconer sold 49,375 shares of Old National Bancorp stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $16.28, for a total value of $803,825.00. Following the completion of the transaction, the chief financial officer now owns 88,712 shares of the company’s stock, valued at approximately $1,444,231.36. The sale was disclosed in a document filed with the SEC, which is available at this link.

Old National Bancorp Trading Up 1.4 %

NASDAQ:ONB opened at $16.77 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 12-month low of $11.66 and a 12-month high of $17.64. The business has a 50 day simple moving average of $16.48 and a 200 day simple moving average of $15.98. The firm has a market capitalization of $4.92 billion, a P/E ratio of 9.06 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The company had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that Old National Bancorp will post 1.83 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.34%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its position in Old National Bancorp by 24.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock worth $55,000 after acquiring an additional 650 shares during the period. PNC Financial Services Group Inc. boosted its position in Old National Bancorp by 5.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock worth $227,000 after acquiring an additional 876 shares during the period. Independence Bank of Kentucky raised its stake in shares of Old National Bancorp by 9.2% in the 1st quarter. Independence Bank of Kentucky now owns 11,962 shares of the bank’s stock worth $208,000 after buying an additional 1,006 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Old National Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 367,501 shares of the bank’s stock worth $6,398,000 after buying an additional 1,009 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Old National Bancorp by 14.5% in the 4th quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock worth $136,000 after buying an additional 1,020 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ONB shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. Stephens decreased their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. StockNews.com upgraded Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, UBS Group reduced their price objective on Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.86.

About Old National Bancorp

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.