Short Interest in Old National Bancorp (NASDAQ:ONB) Decreases By 18.3%

Old National Bancorp (NASDAQ:ONB - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 9,580,000 shares, a decrease of 18.3% from the March 31st total of 11,730,000 shares. Based on an average trading volume of 2,250,000 shares, the short-interest ratio is presently 4.3 days.

Old National Bancorp Trading Down 0.5 %

Shares of Old National Bancorp stock traded down $0.09 during trading hours on Friday, reaching $16.57. 1,325,816 shares of the company's stock were exchanged, compared to its average volume of 2,728,749. Old National Bancorp has a 52-week low of $11.66 and a 52-week high of $17.64. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 8.96 and a beta of 0.83. The company has a fifty day moving average of $16.47 and a 200-day moving average of $15.95. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.02. The company had revenue of $440.20 million for the quarter, compared to analyst estimates of $440.00 million. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The business's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS. Sell-side analysts forecast that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Monday, March 4th. Old National Bancorp's dividend payout ratio (DPR) is currently 30.27%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ONB. Handelsbanken Fonder AB raised its position in shares of Old National Bancorp by 4.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 51,159 shares of the bank's stock worth $744,000 after buying an additional 2,200 shares during the period. Bfsg LLC purchased a new position in shares of Old National Bancorp in the 3rd quarter worth $199,000. Raymond James & Associates raised its position in shares of Old National Bancorp by 7.1% in the 3rd quarter. Raymond James & Associates now owns 299,281 shares of the bank's stock worth $4,352,000 after buying an additional 19,903 shares during the period. Lynch & Associates IN raised its position in shares of Old National Bancorp by 18.9% in the 3rd quarter. Lynch & Associates IN now owns 12,167 shares of the bank's stock worth $177,000 after buying an additional 1,932 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Old National Bancorp by 24.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,818 shares of the bank's stock worth $812,000 after buying an additional 11,074 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONB has been the topic of several recent analyst reports. StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $20.00 price target on shares of Old National Bancorp in a report on Tuesday, April 2nd. Stephens lowered their price target on Old National Bancorp from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price target on shares of Old National Bancorp in a report on Tuesday, April 9th. Finally, Barclays increased their target price on Old National Bancorp from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.86.

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.