UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Old National Bancorp (NASDAQ:ONB – Free Report) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 728,298 shares of the bank’s stock after selling 36,673 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Old National Bancorp worth $18,863,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of ONB. Bank of America Corp DE boosted its stake in Old National Bancorp by 2.5% in the 1st quarter. Bank of America Corp DE now owns 4,229,045 shares of the bank’s stock worth $93,462,000 after purchasing an additional 102,956 shares during the period. Algebris UK Ltd. boosted its position in shares of Old National Bancorp by 57.9% in the fourth quarter. Algebris UK Ltd. now owns 1,844,036 shares of the bank’s stock valued at $41,160,000 after acquiring an additional 675,873 shares during the period. Quantinno Capital Management LP grew its stake in Old National Bancorp by 200.0% during the first quarter. Quantinno Capital Management LP now owns 153,244 shares of the bank’s stock valued at $3,387,000 after acquiring an additional 102,159 shares in the last quarter. Deutsche Bank AG purchased a new position in Old National Bancorp during the second quarter valued at approximately $9,460,000. Finally, Norges Bank bought a new stake in Old National Bancorp during the 4th quarter worth approximately $72,661,000. 83.66% of the stock is owned by institutional investors.
Insider Activity
In related news, insider Nicholas J. Chulos sold 20,000 shares of Old National Bancorp stock in a transaction 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 completion of the sale, the insider owned 53,544 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, CEO Chady M. Alahmar sold 11,771 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.41, for a total value of $310,872.11. Following the sale, the chief executive officer owned 63,531 shares of the company’s stock, valued at approximately $1,677,853.71. This represents a 15.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.72% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on ONB
Old National Bancorp Price Performance
Shares of NASDAQ ONB opened at $26.04 on Friday. The company has a 50 day simple moving average of $26.32 and a two-hundred day simple moving average of $24.52. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 11.57 and a beta of 0.83. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $27.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 0.94.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The firm had revenue of $726.86 million for the quarter, compared to analysts’ expectations of $716.25 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Analysts expect that Old National Bancorp will post 2.6 EPS for the current fiscal year.
Old National Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Saturday, September 5th will be issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, September 4th. Old National Bancorp’s dividend payout ratio is presently 25.78%.
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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