Old National Bancorp $ONB Shares Sold by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,823 shares of the bank’s stock after selling 69,938 shares during the period. Old National Bancorp makes up 2.9% of Endeavour Capital Advisors Inc.’s holdings, making the stock its 15th largest position. Endeavour Capital Advisors Inc.’s holdings in Old National Bancorp were worth $9,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC purchased a new stake in shares of Old National Bancorp during the third quarter worth about $2,195,000. Rothschild Investment LLC raised its position 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 purchasing an additional 535 shares during the last quarter. Vanguard Group Inc. boosted its stake in Old National Bancorp by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after purchasing an additional 3,379,577 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Old National Bancorp by 6.9% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 77,735 shares of the bank’s stock worth $1,706,000 after purchasing an additional 5,051 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Old National Bancorp by 9.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 99,118 shares of the bank’s stock worth $2,176,000 after purchasing an additional 8,350 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on ONB shares. Stephens upped their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $26.00 price objective (down from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Truist Financial upped 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. UBS Group reaffirmed a “neutral” rating and set a $26.00 price target on shares of Old National Bancorp in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Old National Bancorp currently has an average rating of “Moderate Buy” and an average price target of $27.36.

Insider Buying and Selling at Old National Bancorp

In other news, insider Nicholas J. Chulos sold 30,000 shares of the 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 sale, the insider directly owned 20,438 shares of the company’s stock, valued at $511,971.90. This represents a 59.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.87% of the company’s stock.

Old National Bancorp Price Performance

Shares of ONB opened at $24.91 on Thursday. The business’s 50-day moving average is $23.71 and its two-hundred day moving average is $22.31. The company has a market capitalization of $9.73 billion, a P/E ratio of 13.92 and a beta of 0.84. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The firm had revenue of $714.50 million during the quarter, compared to analyst estimates of $705.62 million. Old National Bancorp had a net margin of 17.91% and a return on equity of 15.06%. During the same period in the previous year, the firm earned $0.49 EPS. Research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp 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.