Insider Selling: Old National Bancorp (ONB) Chairman Sells $348,539.36 in Stock
Old National Bancorp (NASDAQ:ONB) Chairman Robert G. Jones sold 20,008 shares of Old National Bancorp stock in a transaction on Friday, November 25th. The shares were sold at an average price of $17.42, for a total value of $348,539.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Old National Bancorp (NASDAQ:ONB) opened at 17.05 on Thursday. Old National Bancorp has a 12-month low of $10.69 and a 12-month high of $17.60. The firm has a 50 day moving average price of $15.23 and a 200-day moving average price of $13.77. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 15.93 and a beta of 1.07.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Monday, October 31st. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Old National Bancorp had a return on equity of 7.62% and a net margin of 19.79%. During the same quarter in the previous year, the business earned $0.26 EPS. On average, equities analysts expect that Old National Bancorp will post $1.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.05%. Old National Bancorp’s dividend payout ratio is 48.60%.
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A number of research analysts have issued reports on ONB shares. Hovde Group started coverage on Old National Bancorp in a research note on Wednesday, August 3rd. They set a “market perform” rating and a $14.00 price objective for the company. Zacks Investment Research upgraded Old National Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, October 5th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Old National Bancorp in a research note on Tuesday, November 22nd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.71.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Old National Bancorp by 8.9% in the second quarter. Vanguard Group Inc. now owns 10,947,238 shares of the company’s stock worth $137,169,000 after buying an additional 897,512 shares in the last quarter. BlackRock Fund Advisors boosted its position in Old National Bancorp by 8.8% in the third quarter. BlackRock Fund Advisors now owns 9,592,690 shares of the company’s stock worth $134,873,000 after buying an additional 779,577 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Old National Bancorp by 21.7% in the second quarter. Dimensional Fund Advisors LP now owns 9,085,602 shares of the company’s stock worth $113,841,000 after buying an additional 1,619,902 shares in the last quarter. Allianz Asset Management AG boosted its position in Old National Bancorp by 1.8% in the second quarter. Allianz Asset Management AG now owns 3,713,924 shares of the company’s stock worth $46,535,000 after buying an additional 65,362 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Old National Bancorp by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,554,808 shares of the company’s stock worth $49,981,000 after buying an additional 122,633 shares in the last quarter. 70.77% of the stock is currently owned by hedge funds and other institutional investors.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
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