TFC Financial Management Inc. Sells 9,290 Shares of Old National Bancorp (NASDAQ:ONB)

TFC Financial Management Inc. trimmed its position in shares of Old National Bancorp (NASDAQ:ONB) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,060 shares of the bank’s stock after selling 9,290 shares during the quarter. Old National Bancorp accounts for approximately 0.6% of TFC Financial Management Inc.’s holdings, making the stock its 17th largest position. TFC Financial Management Inc. owned approximately 0.05% of Old National Bancorp worth $3,735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONB. Sanctuary Advisors LLC bought a new position in Old National Bancorp in the 2nd quarter worth $399,000. GAMMA Investing LLC raised its holdings in Old National Bancorp by 156.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,906 shares of the bank’s stock worth $73,000 after purchasing an additional 2,385 shares during the period. CWM LLC raised its holdings in Old National Bancorp by 0.7% in the 3rd quarter. CWM LLC now owns 87,365 shares of the bank’s stock worth $1,630,000 after purchasing an additional 591 shares during the period. Creative Planning raised its holdings in Old National Bancorp by 19.0% in the 3rd quarter. Creative Planning now owns 95,315 shares of the bank’s stock worth $1,779,000 after purchasing an additional 15,250 shares during the period. Finally, nVerses Capital LLC bought a new position in Old National Bancorp in the 3rd quarter worth $399,000. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Down 1.4 %

ONB opened at $23.81 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.59 billion, a P/E ratio of 14.17 and a beta of 0.88. Old National Bancorp has a 12 month low of $15.36 and a 12 month high of $24.49. The stock has a 50-day moving average of $22.58 and a 200 day moving average of $20.63.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, research analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James reiterated a “strong-buy” rating and issued a $29.00 price target (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised 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. Finally, Barclays raised their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.29.

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.