Sapient Capital LLC Takes $752,000 Position in Old National Bancorp (NASDAQ:ONB)

Sapient Capital LLC bought a new stake in Old National Bancorp (NASDAQ:ONB) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 44,533 shares of the bank’s stock, valued at approximately $752,000.

Several other institutional investors also recently modified their holdings of the business. Parkside Financial Bank & Trust grew its holdings in Old National Bancorp by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock valued at $55,000 after purchasing an additional 650 shares during the period. PNC Financial Services Group Inc. raised its stake in Old National Bancorp by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 15,633 shares of the bank’s stock valued at $227,000 after acquiring an additional 876 shares during the period. Arizona State Retirement System lifted its holdings in Old National Bancorp by 1.4% during the third quarter. Arizona State Retirement System now owns 83,312 shares of the bank’s stock valued at $1,211,000 after purchasing an additional 1,125 shares during the last quarter. Retirement Systems of Alabama boosted its position in Old National Bancorp by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 366,492 shares of the bank’s stock worth $6,190,000 after purchasing an additional 1,163 shares during the period. Finally, Ziegler Capital Management LLC increased its stake in shares of Old National Bancorp by 2.3% in the fourth quarter. Ziegler Capital Management LLC now owns 61,245 shares of the bank’s stock worth $1,034,000 after purchasing an additional 1,361 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Price Performance

ONB traded up $0.16 during trading on Friday, reaching $17.19. The stock had a trading volume of 1,665,333 shares, compared to its average volume of 2,009,929. The stock has a market cap of $5.48 billion, a PE ratio of 9.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a one year low of $11.66 and a one year high of $17.64. The business has a 50-day moving average of $16.52 and a 200-day moving average of $16.03.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The business had revenue of $440.20 million during the quarter, compared to analyst estimates of $440.00 million. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

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 was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.26%. Old National Bancorp’s payout ratio is 30.27%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONB. UBS Group reduced their price objective on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Stephens cut their target price on Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Barclays raised their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the completion of the sale, the chief financial officer now directly owns 88,712 shares in the company, valued at $1,444,231.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

Old National Bancorp 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.