Old National Bancorp (NASDAQ:ONB) Shares Sold by FJ Capital Management LLC

FJ Capital Management LLC lowered its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 77.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,190 shares of the bank's stock after selling 424,769 shares during the quarter. FJ Capital Management LLC's holdings in Old National Bancorp were worth $2,652,000 as of its most recent filing with the SEC.

Other large investors 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 4th quarter worth $25,000. Empowered Funds LLC purchased a new position in shares of Old National Bancorp during the 4th quarter worth $28,000. UMB Bank n.a. increased its holdings in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp during the 4th quarter worth $65,000. Finally, Allworth Financial LP increased its holdings in shares of Old National Bancorp by 150.5% during the 4th quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock worth $82,000 after buying an additional 2,107 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Down 0.7%

NASDAQ ONB traded down $0.16 during trading hours on Friday, hitting $21.40. The company had a trading volume of 1,600,094 shares, compared to its average volume of 2,494,623. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The firm's 50 day moving average is $20.42 and its 200 day moving average is $21.68. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 12.74 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. The company had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. Sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.62%. Old National Bancorp's dividend payout ratio is currently 32.56%.

Analyst Ratings Changes

A number of research firms have recently commented on ONB. Barclays dropped 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. Citigroup dropped their price objective on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada dropped their price objective on 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. Raymond James dropped their price objective on 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. Finally, Stephens restated an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.63.

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.