1ST Source Bank Sells 2,041 Shares of Old National Bancorp (NASDAQ:ONB)

1ST Source Bank lessened its stake in Old National Bancorp (NASDAQ:ONB) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,021 shares of the bank’s stock after selling 2,041 shares during the period. 1ST Source Bank’s holdings in Old National Bancorp were worth $413,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONB. KBC Group NV raised its position in Old National Bancorp by 16.3% in the 3rd quarter. KBC Group NV now owns 9,789 shares of the bank’s stock worth $183,000 after purchasing an additional 1,375 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Old National Bancorp by 5.6% during the 3rd quarter. Natixis Advisors LLC now owns 57,495 shares of the bank’s stock valued at $1,073,000 after acquiring an additional 3,029 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Old National Bancorp during the 3rd quarter valued at $91,000. LMR Partners LLP bought a new stake in shares of Old National Bancorp during the 3rd quarter valued at $452,000. Finally, OneAscent Financial Services LLC bought a new stake in shares of Old National Bancorp during the 3rd quarter valued at $629,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ONB shares. Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays upped their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Raymond James reiterated a “strong-buy” rating and set a $29.00 target price (up previously from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Price Performance

Shares of NASDAQ ONB opened at $21.12 on Tuesday. The firm has a market cap of $6.74 billion, a PE ratio of 12.57 and a beta of 0.85. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The company has a fifty day moving average price of $22.82 and a 200 day moving average price of $21.26.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period last year, the firm posted $0.46 earnings per share. Research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s payout ratio is presently 33.33%.

Old National Bancorp 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.