48,429 Old National Bancorp $ONB Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA cut its position in shares of Old National Bancorp (NASDAQ:ONB) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 837,075 shares of the bank’s stock after selling 48,429 shares during the quarter. Old National Bancorp comprises 1.0% of Leeward Investments LLC MA’s portfolio, making the stock its 29th biggest position. Leeward Investments LLC MA’s holdings in Old National Bancorp were worth $20,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONB. Fortitude Family Office LLC raised its holdings in shares of Old National Bancorp by 313.5% in the 3rd quarter. Fortitude Family Office LLC now owns 1,075 shares of the bank’s stock worth $26,000 after purchasing an additional 815 shares during the period. Archer Investment Corp acquired a new position in shares of Old National Bancorp in the 2nd quarter valued at about $39,000. Integrated Wealth Concepts LLC acquired a new position in shares of Old National Bancorp in the 2nd quarter valued at about $41,000. FNY Investment Advisers LLC purchased a new stake in shares of Old National Bancorp during the 2nd quarter worth about $49,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Old National Bancorp during the 3rd quarter worth about $53,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old National Bancorp

In related news, CEO Chady Alahmar sold 11,771 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the transaction, the chief executive officer directly owned 63,531 shares of the company’s stock, valued at approximately $1,677,853.71. The trade was a 15.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Chulos sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total value of $533,200.00. Following the completion of the transaction, the insider owned 53,544 shares of the company’s stock, valued at approximately $1,427,483.04. This represents a 27.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.72% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $25.32 on Monday. The business’s 50-day moving average is $25.35 and its two-hundred day moving average is $25.12. The firm has a market capitalization of $9.69 billion, a PE ratio of 10.33 and a beta of 0.86. Old National Bancorp has a 12 month low of $19.60 and a 12 month high of $27.36. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, October 21st. The bank reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Old National Bancorp had a return on equity of 16.55% and a net margin of 23.36%. The company had revenue of $719.50 million during the quarter, compared to the consensus estimate of $732.04 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. Research analysts predict that Old National Bancorp will post 2.58 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Saturday, September 5th were given a dividend of $0.1450 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.58 annualized dividend and a yield of 2.3%. Old National Bancorp’s payout ratio is 23.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ONB shares. Barclays increased their target price on shares of Old National Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada reduced their price target on shares of Old National Bancorp from $29.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group reiterated a “hold” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, July 22nd. UBS Group assumed coverage on shares of Old National Bancorp in a research note on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Old National Bancorp from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.64.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is a regional financial services company headquartered in Evansville, Indiana. Through its principal subsidiary, Old National Bank, the company provides banking and financial solutions to individuals, families, businesses and institutions.

Its products and services include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury and cash-management services, trust and investment management, wealth management, and other financial advisory services.