Old National Bancorp (NASDAQ:ONB) Stake Trimmed by Easterly Investment Partners LLC

Easterly Investment Partners LLC reduced its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,493 shares of the bank's stock after selling 15,000 shares during the period. Easterly Investment Partners LLC owned 0.06% of Old National Bancorp worth $4,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. acquired a new stake in Old National Bancorp in the 4th quarter worth approximately $25,000. USA Financial Formulas purchased a new position in shares of Old National Bancorp during the 1st quarter valued at approximately $50,000. Fifth Third Bancorp increased its holdings in shares of Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after purchasing an additional 695 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 122.3% during the 1st quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after purchasing an additional 2,187 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Old National Bancorp by 157.7% in the 1st quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after acquiring an additional 2,630 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ONB has been the topic of several recent research reports. Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group initiated coverage on shares of Old National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price target on the stock. Barclays upped their target price on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citigroup cut their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old National Bancorp currently has an average rating of "Moderate Buy" and an average target price of $26.30.

Old National Bancorp Stock Performance

Shares of ONB stock traded up $0.15 on Thursday, hitting $22.92. 3,277,645 shares of the stock traded hands, compared to its average volume of 2,798,377. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $7.33 billion, a PE ratio of 13.33 and a beta of 0.85. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The company's fifty day moving average is $21.55 and its 200 day moving average is $21.63.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. On average, equities research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's payout ratio is currently 32.56%.

Old National Bancorp Company Profile

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.