Insider Selling: Old National Bancorp (NASDAQ:ONB) CFO Sells $492,503.77 in Stock

Old National Bancorp (NASDAQ:ONB) CFO John Moran sold 19,261 shares of Old National Bancorp stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $25.57, for a total transaction of $492,503.77. Following the completion of the sale, the chief financial officer owned 101,467 shares in the company, valued at $2,594,511.19. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Old National Bancorp Stock Up 1.8%

Shares of ONB stock traded up $0.47 during trading on Wednesday, reaching $25.89. The company’s stock had a trading volume of 4,679,493 shares, compared to its average volume of 5,085,206. The business has a fifty day moving average price of $25.21 and a 200-day moving average price of $24.65. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.85. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 10.57 and a beta of 0.88. Old National Bancorp has a one year low of $19.60 and a one year high of $27.36.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Wednesday, October 21st. The bank reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $719.00 million during the quarter, compared to analysts’ expectations of $732.04 million. Old National Bancorp had a net margin of 23.36% and a return on equity of 12.02%. During the same quarter in the prior year, the company posted $0.59 earnings per share. Analysts anticipate that Old National Bancorp will post 2.57 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Saturday, September 5th were given a dividend of $0.1450 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.58 annualized dividend and a yield of 2.2%. Old National Bancorp’s payout ratio is 23.67%.

Analyst Ratings Changes

ONB has been the subject of a number of recent research reports. TD Cowen reduced their price objective on shares of Old National Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Barclays lifted their target price on Old National Bancorp from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded Old National Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 26th. Royal Bank Of Canada reduced their price target on Old National Bancorp from $29.00 to $28.00 and set a “sector perform” rating for the company in a research report on Friday, October 9th. Finally, Truist Financial increased their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its stake in Old National Bancorp by 1.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 27,233 shares of the bank’s stock valued at $671,000 after acquiring an additional 514 shares during the period. Parallel Advisors LLC boosted its position in Old National Bancorp by 16.0% during the third quarter. Parallel Advisors LLC now owns 4,841 shares of the bank’s stock worth $119,000 after purchasing an additional 669 shares during the period. Fortitude Family Office LLC boosted its position in Old National Bancorp by 313.5% during the third quarter. Fortitude Family Office LLC now owns 1,075 shares of the bank’s stock worth $26,000 after purchasing an additional 815 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Old National Bancorp by 2.9% in the third quarter. Quadrant Capital Group LLC now owns 32,349 shares of the bank’s stock valued at $796,000 after purchasing an additional 903 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Old National Bancorp by 10.2% in the third quarter. GAMMA Investing LLC now owns 12,191 shares of the bank’s stock valued at $300,000 after purchasing an additional 1,131 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is a regional financial services company headquartered in Evansville, Indiana. Through its principal subsidiary, Old National Bank, the company provides banking and financial solutions to individuals, families, businesses and institutions.

Its products and services include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury and cash-management services, trust and investment management, wealth management, and other financial advisory services.