Leeward Investments LLC MA Sells 24,966 Shares of Old National Bancorp $ONB

Leeward Investments LLC MA lowered its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 904,960 shares of the bank’s stock after selling 24,966 shares during the period. Leeward Investments LLC MA’s holdings in Old National Bancorp were worth $20,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONB. MAI Capital Management lifted its holdings in Old National Bancorp by 156.8% in the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after purchasing an additional 704 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Old National Bancorp during the 4th quarter valued at approximately $27,000. Flagship Harbor Advisors LLC bought a new stake in shares of Old National Bancorp during the fourth quarter valued at approximately $28,000. JFS Wealth Advisors LLC raised its position in shares of Old National Bancorp by 811.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,604 shares of the bank’s stock valued at $36,000 after buying an additional 1,428 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Old National Bancorp in the fourth quarter worth $36,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ONB shares. Truist Financial raised their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Barclays boosted their price target on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Old National Bancorp in a report on Thursday, June 4th. Stephens raised their price objective on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Citigroup lifted their target price on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.91.

Old National Bancorp Stock Up 1.2%

NASDAQ ONB opened at $25.32 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market capitalization of $9.78 billion, a P/E ratio of 13.05 and a beta of 0.84. Old National Bancorp has a one year low of $19.39 and a one year high of $26.17. The stock has a 50 day moving average price of $24.03 and a 200-day moving average price of $23.49.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The company had revenue of $702.70 million for the quarter, compared to analysts’ expectations of $706.62 million. During the same quarter in the previous year, the business posted $0.45 earnings per share. Old National Bancorp’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, equities analysts predict that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s dividend payout ratio is currently 29.90%.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.