Guggenheim Capital LLC Sells 69,355 Shares of Old National Bancorp (NASDAQ:ONB)

Guggenheim Capital LLC lowered its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 83.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,814 shares of the bank's stock after selling 69,355 shares during the quarter. Guggenheim Capital LLC's holdings in Old National Bancorp were worth $300,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. XTX Topco Ltd bought a new position in Old National Bancorp during the fourth quarter worth about $1,001,000. Mariner LLC raised its holdings in shares of Old National Bancorp by 0.9% in the 4th quarter. Mariner LLC now owns 57,744 shares of the bank's stock worth $1,253,000 after buying an additional 509 shares in the last quarter. Barclays PLC lifted its position in shares of Old National Bancorp by 3.4% during the 4th quarter. Barclays PLC now owns 867,667 shares of the bank's stock worth $18,833,000 after buying an additional 28,163 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Old National Bancorp in the 4th quarter valued at $382,000. Finally, Sterling Capital Management LLC grew its position in Old National Bancorp by 7.6% in the fourth quarter. Sterling Capital Management LLC now owns 181,169 shares of the bank's stock valued at $3,932,000 after acquiring an additional 12,770 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays cut their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Raymond James cut their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Citigroup decreased their price objective 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. Stephens reaffirmed an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Finally, StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.63.

Old National Bancorp Trading Up 2.9 %

ONB stock traded up $0.60 during trading on Friday, hitting $21.27. The company had a trading volume of 441,538 shares, compared to its average volume of 2,474,905. The firm has a 50-day moving average price of $20.66 and a 200-day moving average price of $21.56. Old National Bancorp has a 12 month low of $15.60 and a 12 month high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 12.65 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released 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. The company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 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.