Old National Bancorp (NASDAQ:ONB) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 62.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,643 shares of the bank's stock after selling 32,242 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Old National Bancorp were worth $426,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GTS Securities LLC increased its stake in Old National Bancorp by 107.4% during the fourth quarter. GTS Securities LLC now owns 21,984 shares of the bank's stock worth $477,000 after purchasing an additional 11,384 shares during the period. Vise Technologies Inc. purchased a new position in shares of Old National Bancorp in the fourth quarter valued at approximately $268,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Old National Bancorp by 12.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 849,007 shares of the bank's stock valued at $18,428,000 after purchasing an additional 92,193 shares in the last quarter. Zimmer Partners LP purchased a new stake in Old National Bancorp during the 4th quarter worth approximately $11,938,000. Finally, Squarepoint Ops LLC acquired a new stake in Old National Bancorp during the 4th quarter worth approximately $2,358,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ONB shares. Citigroup dropped their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Royal Bank Of Canada lowered their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Barclays cut their price target on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial initiated coverage on Old National Bancorp in a research note on Tuesday, May 13th. They issued a "buy" rating and a $26.00 price objective for the company. Finally, Raymond James Financial lowered their price objective on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Three research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.90.

Old National Bancorp Stock Down 1.6%

Old National Bancorp stock traded down $0.32 during mid-day trading on Tuesday, hitting $20.32. The company had a trading volume of 2,107,153 shares, compared to its average volume of 2,707,843. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.82. Old National Bancorp has a 1 year low of $15.90 and a 1 year high of $24.49. The business has a fifty day moving average of $20.78 and a 200 day moving average of $21.69. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 11.81 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $478.37 million. On average, sell-side analysts expect that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) is currently 32.56%.

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.