Old National Bancorp (NASDAQ:ONB – Get Free Report) insider Nicholas Chulos sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total value of $533,200.00. Following the sale, the insider owned 53,544 shares in the company, valued at $1,427,483.04. The trade was a 27.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Old National Bancorp Price Performance
Shares of ONB opened at $26.68 on Thursday. The company has a market cap of $10.31 billion, a P/E ratio of 11.86 and a beta of 0.83. The stock has a fifty day moving average price of $25.32 and a 200 day moving average price of $24.11. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.90. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $27.32.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a return on equity of 16.16% and a net margin of 21.60%.The company had revenue of $732.55 million for the quarter, compared to analysts’ expectations of $716.25 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, research analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current year.
Old National Bancorp Announces Dividend
Hedge Funds Weigh In On Old National Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new stake in shares of Old National Bancorp in the 2nd quarter worth $299,000. Valeo Financial Advisors LLC boosted its stake in Old National Bancorp by 10.4% during the second quarter. Valeo Financial Advisors LLC now owns 26,719 shares of the bank’s stock valued at $692,000 after buying an additional 2,525 shares in the last quarter. Trust Point Inc. bought a new position in Old National Bancorp during the second quarter valued at about $209,000. FNY Investment Advisers LLC acquired a new position in Old National Bancorp during the second quarter worth about $49,000. Finally, GAMMA Investing LLC grew its holdings in Old National Bancorp by 11.5% during the second quarter. GAMMA Investing LLC now owns 11,060 shares of the bank’s stock worth $286,000 after acquiring an additional 1,141 shares during the period. 83.66% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on ONB. Royal Bank Of Canada raised their target price on Old National Bancorp from $28.00 to $29.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Raymond James Financial began coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Finally, TD Cowen raised their target price on shares of Old National Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $29.36.
Check Out Our Latest Report on Old National Bancorp
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.
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