LSV Asset Management Sells 4,800 Shares of Old National Bancorp (NASDAQ:ONB)

LSV Asset Management reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 662,300 shares of the bank’s stock after selling 4,800 shares during the quarter. LSV Asset Management owned 0.23% of Old National Bancorp worth $11,186,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Great Lakes Advisors LLC lifted its stake in shares of Old National Bancorp by 1,897.8% in the third quarter. Great Lakes Advisors LLC now owns 286,384 shares of the bank’s stock valued at $4,164,000 after buying an additional 272,049 shares during the period. Foundry Partners LLC raised its stake in shares of Old National Bancorp by 2,494.5% in the fourth quarter. Foundry Partners LLC now owns 482,028 shares of the bank’s stock valued at $8,141,000 after purchasing an additional 463,449 shares in the last quarter. Federated Hermes Inc. boosted its stake in Old National Bancorp by 18.7% during the fourth quarter. Federated Hermes Inc. now owns 341,484 shares of the bank’s stock worth $5,768,000 after buying an additional 53,792 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Old National Bancorp by 31.5% in the 4th quarter. New York State Common Retirement Fund now owns 1,191,832 shares of the bank’s stock valued at $20,130,000 after buying an additional 285,603 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Old National Bancorp by 79.1% during the 4th quarter. Pacer Advisors Inc. now owns 43,993 shares of the bank’s stock worth $743,000 after acquiring an additional 19,430 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Activity at Old National Bancorp

In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the sale, the chief financial officer now directly owns 88,712 shares in the company, valued at approximately $1,444,231.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.07% of the stock is owned by corporate insiders.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $17.26 on Wednesday. The stock has a market capitalization of $5.51 billion, a P/E ratio of 9.33 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. Old National Bancorp has a 1-year low of $11.80 and a 1-year high of $17.64. The business has a 50-day moving average price of $16.56 and a two-hundred day moving average price of $16.08.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 11.31%. The company had revenue of $440.20 million during the quarter, compared to analysts’ expectations of $440.00 million. During the same quarter in the previous year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts predict that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.56 annualized dividend and a yield of 3.24%. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ONB shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 price objective on shares of Old National Bancorp in a research note on Tuesday, April 2nd. Stephens cut their price target on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. UBS Group decreased their price objective on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 target price on shares of Old National Bancorp in a research note on Tuesday, April 9th. Finally, StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

Old National Bancorp Profile

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.