Old National Bancorp $ONB Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in Old National Bancorp (NASDAQ:ONB) by 1.4% in the second quarter, HoldingsChannel reports. The fund owned 161,892 shares of the bank’s stock after selling 2,284 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Old National Bancorp were worth $3,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Uptick Partners LLC acquired a new stake in Old National Bancorp during the second quarter valued at approximately $430,000. NorthRock Partners LLC purchased a new stake in shares of Old National Bancorp in the 2nd quarter valued at approximately $205,000. Allspring Global Investments Holdings LLC lifted its position in shares of Old National Bancorp by 47.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,844,707 shares of the bank’s stock valued at $63,039,000 after acquiring an additional 913,831 shares in the last quarter. CWM LLC lifted its position in Old National Bancorp by 1.3% in the 2nd quarter. CWM LLC now owns 91,736 shares of the bank’s stock worth $1,958,000 after buying an additional 1,136 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Old National Bancorp by 10.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,544 shares of the bank’s stock worth $780,000 after buying an additional 3,560 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 0.9%

Shares of NASDAQ ONB opened at $20.62 on Friday. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The company has a market cap of $8.08 billion, a PE ratio of 12.06 and a beta of 0.85. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $21.94 and a two-hundred day moving average of $21.40.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. The company had revenue of $222.80 million during the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. As a group, equities analysts expect that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old National Bancorp’s payout ratio is 33.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Old National Bancorp from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. TD Cowen started coverage on shares of Old National Bancorp in a research note on Thursday, September 25th. They issued a “hold” rating and a $25.00 target price on the stock. Barclays set a $29.00 price target on shares of Old National Bancorp and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Cowen began coverage on shares of Old National Bancorp in a research report on Wednesday, September 24th. They issued a “hold” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.18.

About Old National Bancorp

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.