Old National Bancorp (NASDAQ:ONB) Shares Sold by Profund Advisors LLC

Profund Advisors LLC decreased its position in Old National Bancorp (NASDAQ:ONB) by 31.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,916 shares of the bank’s stock after selling 9,008 shares during the quarter. Profund Advisors LLC’s holdings in Old National Bancorp were worth $344,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ONB. Wells Fargo & Company MN lifted its stake in Old National Bancorp by 2.4% in the first quarter. Wells Fargo & Company MN now owns 200,753 shares of the bank’s stock valued at $3,482,000 after buying an additional 4,640 shares during the last quarter. US Bancorp DE raised its stake in shares of Old National Bancorp by 58.9% during the first quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after purchasing an additional 3,970 shares in the last quarter. Swiss National Bank raised its stake in shares of Old National Bancorp by 1.7% during the first quarter. Swiss National Bank now owns 211,084 shares of the bank’s stock valued at $3,662,000 after purchasing an additional 3,600 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Old National Bancorp by 7.7% during the first quarter. UBS Asset Management Americas Inc. now owns 82,411 shares of the bank’s stock valued at $1,430,000 after purchasing an additional 5,861 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Old National Bancorp during the first quarter valued at about $559,000. 72.62% of the stock is owned by institutional investors and hedge funds.

Shares of Old National Bancorp (NASDAQ:ONB) opened at 18.45 on Tuesday. Old National Bancorp has a 52-week low of $13.74 and a 52-week high of $18.95. The stock’s 50 day moving average price is $17.25 and its 200-day moving average price is $16.87. The company has a market capitalization of $2.50 billion, a PE ratio of 17.52 and a beta of 1.10.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. During the same period last year, the firm earned $0.31 earnings per share. On average, analysts expect that Old National Bancorp will post $1.06 earnings per share for the current year.

A number of equities analysts recently weighed in on the company. Piper Jaffray Companies initiated coverage on Old National Bancorp in a research note on Friday, October 6th. They issued a “neutral” rating and a $19.00 price target on the stock. Boenning Scattergood initiated coverage on Old National Bancorp in a research note on Wednesday, October 4th. They set an “outperform” rating and a $20.50 target price on the stock. BidaskClub raised Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Raymond James Financial, Inc. upgraded Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Tuesday, September 19th. Finally, UBS AG upgraded Old National Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 19th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.83.

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In related news, insider John R. Kamin sold 5,531 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.56, for a total value of $91,593.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is owned by company insiders.

About Old National Bancorp

Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.

Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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