Leeward Investments LLC MA Sells 44,189 Shares of Old National Bancorp (NASDAQ:ONB)

Leeward Investments LLC MA lessened its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 992,181 shares of the bank's stock after selling 44,189 shares during the period. Old National Bancorp comprises 1.1% of Leeward Investments LLC MA's portfolio, making the stock its 17th largest holding. Leeward Investments LLC MA owned about 0.31% of Old National Bancorp worth $21,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lee Danner & Bass Inc. purchased a new position in shares of Old National Bancorp during the fourth quarter valued at approximately $25,000. USA Financial Formulas purchased a new position in shares of Old National Bancorp during the first quarter valued at approximately $50,000. Fifth Third Bancorp raised its holdings in shares of Old National Bancorp by 21.9% during the first quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after purchasing an additional 695 shares during the last quarter. UMB Bank n.a. increased its holdings in Old National Bancorp by 122.3% during the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after buying an additional 2,187 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Old National Bancorp by 157.7% during the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock valued at $91,000 after buying an additional 2,630 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded down $1.25 during midday trading on Friday, reaching $21.25. 1,718,442 shares of the company were exchanged, compared to its average volume of 2,768,270. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82. The business's fifty day moving average is $21.20 and its two-hundred day moving average is $21.55. Old National Bancorp has a one year low of $16.50 and a one year high of $24.49. The stock has a market cap of $6.79 billion, a PE ratio of 12.35 and a beta of 0.85.

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 analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.74% and a return on equity of 9.98%. The firm had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. As a group, analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. Old National Bancorp's dividend payout ratio is 32.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONB. Royal Bank Of Canada reduced their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. National Bankshares set a $24.00 target price on shares of Old National Bancorp in a report on Tuesday, May 20th. Stephens reaffirmed an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Truist Financial began coverage on shares of Old National Bancorp in a report on Tuesday, May 13th. They set a "buy" rating and a $26.00 target price for the company. Finally, Jefferies Financial Group began coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $25.90.

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.