Corient Private Wealth LLC Sells 53,117 Shares of Old National Bancorp (NASDAQ:ONB)

Corient Private Wealth LLC decreased its stake in Old National Bancorp (NASDAQ:ONB) by 37.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,111 shares of the bank’s stock after selling 53,117 shares during the quarter. Corient Private Wealth LLC’s holdings in Old National Bancorp were worth $1,934,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Old National Bancorp by 0.3% during the third quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after buying an additional 42,723 shares in the last quarter. Geode Capital Management LLC increased its holdings in Old National Bancorp by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after purchasing an additional 514,315 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Old National Bancorp by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank’s stock valued at $163,899,000 after purchasing an additional 326,135 shares in the last quarter. Channing Capital Management LLC raised its position in Old National Bancorp by 12.4% in the 4th quarter. Channing Capital Management LLC now owns 4,618,462 shares of the bank’s stock valued at $100,244,000 after purchasing an additional 509,028 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Old National Bancorp by 28.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock worth $88,998,000 after purchasing an additional 914,217 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Up 1.5 %

Shares of NASDAQ ONB opened at $21.51 on Tuesday. The company’s 50 day simple moving average is $22.85 and its 200 day simple moving average is $21.33. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The firm has a market capitalization of $6.86 billion, a P/E ratio of 12.80 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the prior year, the company posted $0.46 EPS. On average, analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.60%. Old National Bancorp’s payout ratio is currently 33.33%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ONB shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Barclays boosted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Stephens reissued an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James restated a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

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.