Old National Bancorp (NASDAQ:ONB) Insider Sells $533,200.00 in Stock

Old National Bancorp (NASDAQ:ONB) insider Nicholas Chulos sold 20,000 shares of Old National Bancorp 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 directly owned 53,544 shares in the company, valued at approximately $1,427,483.04. This represents a 27.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Old National Bancorp Stock Up 0.9%

Shares of ONB stock opened at $26.64 on Friday. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.32. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 0.95. The firm has a market cap of $10.19 billion, a PE ratio of 11.84 and a beta of 0.83. The stock has a 50 day moving average of $25.43 and a 200-day moving average of $24.15.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The business had revenue of $732.55 million for the quarter, compared to the consensus estimate of $716.25 million. During the same quarter last year, the company posted $0.53 earnings per share. Old National Bancorp’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts predict that Old National Bancorp will post 2.6 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is currently 25.78%.

Wall Street Analysts Forecast Growth

ONB has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday, July 22nd. Truist Financial upped their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup raised their target price on Old National Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Keefe, Bruyette & Woods upped their price target on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, UBS Group began coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.36.

Institutional Investors Weigh In On Old National Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new position in shares of Old National Bancorp in the fourth quarter worth about $27,000. Flagship Harbor Advisors LLC acquired a new position in shares of Old National Bancorp during the fourth quarter worth approximately $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Old National Bancorp during the fourth quarter worth approximately $36,000. Peterson Wealth Services grew its stake in shares of Old National Bancorp by 9,711.8% during the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,651 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Old National Bancorp during the second quarter valued at approximately $49,000. Institutional investors own 83.66% of the company’s stock.

About Old National Bancorp

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.