Old National Bancorp (NASDAQ:ONB) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Old National Bancorp (NASDAQ:ONB) by 35.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,662 shares of the bank’s stock after selling 19,373 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Old National Bancorp were worth $752,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new stake in Old National Bancorp in the 4th quarter valued at about $25,000. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp in the fourth quarter valued at $28,000. Versant Capital Management Inc boosted its position in shares of Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after purchasing an additional 615 shares in the last quarter. UMB Bank n.a. boosted its holdings in Old National Bancorp by 58.9% during the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Old National Bancorp during the 4th quarter worth $65,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Old National Bancorp Trading Down 0.8 %

ONB opened at $21.02 on Wednesday. The firm has a 50 day simple moving average of $22.67 and a 200 day simple moving average of $21.44. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 12.51 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.66%. Old National Bancorp’s payout ratio is 33.33%.

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.