UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 36,673 Shares of Old National Bancorp $ONB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Old National Bancorp (NASDAQ:ONB) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 728,298 shares of the bank’s stock after selling 36,673 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Old National Bancorp were worth $18,863,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Old National Bancorp during the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC bought a new stake in Old National Bancorp in the 4th quarter worth approximately $36,000. Peterson Wealth Services raised its holdings in shares of Old National Bancorp by 9,711.8% during the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after acquiring an additional 1,651 shares in the last quarter. Archer Investment Corp bought a new position in shares of Old National Bancorp during the 2nd quarter valued at approximately $39,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Old National Bancorp in the second quarter valued at $49,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Old National Bancorp news, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas J. Chulos sold 20,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 53,544 shares in the company, valued at approximately $1,427,483.04. The trade was a 27.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by insiders.

Old National Bancorp Trading Up 0.2%

NASDAQ ONB opened at $26.04 on Friday. The company’s 50-day moving average price is $26.32 and its 200-day moving average price is $24.52. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.95. The stock has a market cap of $9.96 billion, a PE ratio of 11.57 and a beta of 0.83. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.36.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The firm had revenue of $726.86 million during the quarter, compared to analyst estimates of $716.25 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. Old National Bancorp’s quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Saturday, September 5th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, September 4th. Old National Bancorp’s payout ratio is 25.78%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ONB. Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a research report on Tuesday. Barclays lifted their price target on Old National Bancorp from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. TD Cowen upped their price objective on Old National Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, July 22nd. Finally, Citigroup boosted their price objective on shares of Old National Bancorp from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.36.

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.