Insider Selling: Old National Bancorp (ONB) Director Sells 1,064 Shares of Stock

Old National Bancorp (NASDAQ:ONB) Director Katherine E. White sold 1,064 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $17.80, for a total transaction of $18,939.20. Following the transaction, the director now owns 1,243 shares in the company, valued at approximately $22,125.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Old National Bancorp remained flat at $$17.85 during midday trading on Friday, according to MarketBeat. 891,112 shares of the stock traded hands, compared to its average volume of 849,262. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $18.88. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 15.39 and a beta of 0.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.88.

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Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Monday, April 23rd. The bank reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. Old National Bancorp had a net margin of 15.23% and a return on equity of 8.18%. The firm had revenue of $170.96 million during the quarter, compared to analyst estimates of $170.43 million. During the same quarter in the prior year, the firm earned $0.27 EPS. analysts forecast that Old National Bancorp will post 1.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 31st. Old National Bancorp’s payout ratio is currently 47.27%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC increased its position in shares of Old National Bancorp by 5.7% during the 4th quarter. Aperio Group LLC now owns 54,676 shares of the bank’s stock valued at $954,000 after purchasing an additional 2,959 shares during the last quarter. Profund Advisors LLC increased its position in shares of Old National Bancorp by 14.7% during the 1st quarter. Profund Advisors LLC now owns 23,574 shares of the bank’s stock valued at $398,000 after purchasing an additional 3,027 shares during the last quarter. LPL Financial LLC increased its position in shares of Old National Bancorp by 12.7% during the 1st quarter. LPL Financial LLC now owns 29,664 shares of the bank’s stock valued at $501,000 after purchasing an additional 3,336 shares during the last quarter. US Bancorp DE increased its position in shares of Old National Bancorp by 27.2% during the 4th quarter. US Bancorp DE now owns 16,711 shares of the bank’s stock valued at $292,000 after purchasing an additional 3,571 shares during the last quarter. Finally, HBK Investments L P increased its position in shares of Old National Bancorp by 20.6% during the 4th quarter. HBK Investments L P now owns 21,100 shares of the bank’s stock valued at $368,000 after purchasing an additional 3,600 shares during the last quarter. 66.03% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on ONB shares. Zacks Investment Research upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Boenning Scattergood restated a “buy” rating on shares of Old National Bancorp in a research note on Wednesday, March 28th. BidaskClub cut shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Hilliard Lyons upgraded shares of Old National Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Friday, February 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $20.00 target price on shares of Old National Bancorp in a research note on Tuesday, February 27th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.25.

Old National Bancorp Company Profile

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