First Trust Advisors LP decreased its holdings in Old National Bancorp (NASDAQ:ONB – Get Rating) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,033,047 shares of the bank’s stock after selling 231,100 shares during the quarter. First Trust Advisors LP owned 0.35% of Old National Bancorp worth $17,015,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in ONB. BlackRock Inc. increased its stake in Old National Bancorp by 37.6% in the 1st quarter. BlackRock Inc. now owns 33,378,748 shares of the bank’s stock valued at $546,744,000 after buying an additional 9,124,230 shares during the last quarter. Vanguard Group Inc. increased its stake in Old National Bancorp by 59.8% in the 1st quarter. Vanguard Group Inc. now owns 29,663,094 shares of the bank’s stock valued at $485,881,000 after buying an additional 11,101,411 shares during the last quarter. State Street Corp increased its stake in Old National Bancorp by 54.9% in the 1st quarter. State Street Corp now owns 15,423,544 shares of the bank’s stock valued at $252,638,000 after buying an additional 5,465,409 shares during the last quarter. Macquarie Group Ltd. increased its stake in Old National Bancorp by 1.7% in the 3rd quarter. Macquarie Group Ltd. now owns 5,313,698 shares of the bank’s stock valued at $87,598,000 after buying an additional 90,542 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Old National Bancorp by 119.2% in the 1st quarter. Northern Trust Corp now owns 4,030,089 shares of the bank’s stock valued at $66,012,000 after buying an additional 2,191,601 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.
Insider Activity at Old National Bancorp
In related news, Chairman Michael L. Scudder sold 9,308 shares of Old National Bancorp stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $17.75, for a total value of $165,217.00. Following the completion of the transaction, the chairman now directly owns 204,297 shares in the company, valued at approximately $3,626,271.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Old National Bancorp news, Chairman Michael L. Scudder sold 9,308 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $17.75, for a total value of $165,217.00. Following the completion of the transaction, the chairman now directly owns 204,297 shares of the company’s stock, valued at approximately $3,626,271.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael L. Scudder sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $18.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chairman now directly owns 265,796 shares of the company’s stock, valued at $4,784,328. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,308 shares of company stock worth $1,510,217. Corporate insiders own 0.70% of the company’s stock.
Old National Bancorp Trading Down 4.4 %
Old National Bancorp (NASDAQ:ONB – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The bank reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Old National Bancorp had a net margin of 23.10% and a return on equity of 11.30%. The business had revenue of $622.86 million during the quarter, compared to analysts’ expectations of $471.30 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Sell-side analysts anticipate that Old National Bancorp will post 2.16 earnings per share for the current year.
Old National Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.56 dividend on an annualized basis and a yield of 3.50%. Old National Bancorp’s dividend payout ratio is 40.29%.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.67.
Old National Bancorp Profile
Old National Bancorp operates as a financial holding company. It engages in the provision of financial and banking solutions. The firm’s Community Banking segment provides commercial, real estate and consumer loans, time deposits, checking and savings accounts, cash management, brokerage, trust and investment advisory services.
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