Old National Bancorp (NASDAQ:ONB) Insider Nicholas Chulos Sells 30,000 Shares

Old National Bancorp (NASDAQ:ONB) insider Nicholas Chulos sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the transaction, the insider owned 20,438 shares in the company, valued at $511,971.90. The trade was a 59.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Old National Bancorp Stock Up 0.9%

Shares of NASDAQ ONB opened at $25.79 on Friday. The company has a market capitalization of $10.08 billion, a P/E ratio of 14.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93. The company has a 50 day simple moving average of $23.19 and a 200-day simple moving average of $22.09. Old National Bancorp has a 1 year low of $16.83 and a 1 year high of $25.94.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Wednesday, January 21st. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $714.50 million for the quarter, compared to analysts’ expectations of $705.62 million. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, December 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 31.28%.

Hedge Funds Weigh In On Old National Bancorp

Institutional investors have recently modified their holdings of the business. MAI Capital Management raised its stake in shares of Old National Bancorp by 156.8% in the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock valued at $25,000 after acquiring an additional 704 shares in the last quarter. Covestor Ltd raised its position in Old National Bancorp by 157.0% in the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock valued at $27,000 after purchasing an additional 755 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of Old National Bancorp by 72.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock valued at $28,000 after buying an additional 535 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Old National Bancorp in the 4th quarter valued at about $28,000. Finally, Hantz Financial Services Inc. grew its position in shares of Old National Bancorp by 310.7% during the second quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock worth $33,000 after buying an additional 1,159 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

ONB has been the subject of several research analyst reports. Stephens increased their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. Truist Financial boosted their target price on Old National Bancorp from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, January 26th. National Bankshares set a $30.00 price target on Old National Bancorp in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their price target on Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.36.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.