TFC Financial Management Inc. lowered its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,400 shares of the bank's stock after selling 18,660 shares during the period. Old National Bancorp accounts for 0.5% of TFC Financial Management Inc.'s investment portfolio, making the stock its 19th biggest holding. TFC Financial Management Inc.'s holdings in Old National Bancorp were worth $3,251,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $25,000. USA Financial Formulas purchased a new position in Old National Bancorp in the 1st quarter valued at approximately $50,000. Fifth Third Bancorp grew its stake in Old National Bancorp by 21.9% in the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after buying an additional 695 shares in the last quarter. UMB Bank n.a. grew its stake in Old National Bancorp by 122.3% in the 1st 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 in the last quarter. Finally, Versant Capital Management Inc grew its stake 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 valued at $91,000 after buying an additional 2,630 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.
Old National Bancorp Price Performance
NASDAQ:ONB traded down $0.03 during trading hours on Monday, hitting $21.34. The stock had a trading volume of 2,284,801 shares, compared to its average volume of 2,752,445. The company has a 50 day simple moving average of $21.10 and a two-hundred day simple moving average of $21.55. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a one year low of $16.50 and a one year high of $24.49. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 12.41 and a beta of 0.86.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $478.37 million. Research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, June 5th. Old National Bancorp's payout ratio is 32.56%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Old National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Stephens reiterated an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday, April 14th. Barclays reduced their price objective on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Citigroup reduced their price objective 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. Finally, Truist Financial assumed coverage on shares of 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. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.90.
Get Our Latest Analysis on Old National Bancorp
Old National Bancorp Company Profile
(
Free Report)
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.
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