Old National Bancorp (ONB) Director Katherine E. White Sells 1,064 Shares

Old National Bancorp (NASDAQ:ONB) Director Katherine E. White sold 1,064 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $17.80, for a total transaction of $18,939.20. Following the completion of the transaction, the director now directly owns 1,243 shares in the company, valued at approximately $22,125.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Old National Bancorp stock traded up $0.05 during midday trading on Friday, hitting $17.90. 32,064 shares of the stock were exchanged, compared to its average volume of 836,903. Old National Bancorp has a 52 week low of $17.57 and a 52 week high of $17.72. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 16.23 and a beta of 0.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.86.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Monday, April 23rd. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $170.96 million for the quarter, compared to the consensus estimate of $170.43 million. Old National Bancorp had a net margin of 15.23% and a return on equity of 8.18%. During the same period last year, the company posted $0.27 EPS. analysts predict that Old National Bancorp will post 1.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.52 annualized dividend and a yield of 2.91%. Old National Bancorp’s dividend payout ratio (DPR) is currently 47.27%.

Several research analysts have recently issued reports on the stock. Hovde Group reaffirmed a “hold” rating and issued a $19.00 target price on shares of Old National Bancorp in a research note on Monday, April 23rd. Hilliard Lyons lowered shares of Old National Bancorp from a “buy” rating to a “neutral” rating in a research note on Thursday, April 26th. Zacks Investment Research lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. ValuEngine lowered shares of Old National Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, BidaskClub raised shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Old National Bancorp presently has an average rating of “Hold” and a consensus target price of $19.25.

A number of hedge funds have recently made changes to their positions in ONB. Swiss National Bank raised its holdings in shares of Old National Bancorp by 2.5% in the fourth quarter. Swiss National Bank now owns 230,784 shares of the bank’s stock valued at $4,027,000 after purchasing an additional 5,600 shares during the last quarter. Elkfork Partners LLC acquired a new position in Old National Bancorp during the fourth quarter worth $383,000. Paloma Partners Management Co increased its holdings in Old National Bancorp by 119.1% during the fourth quarter. Paloma Partners Management Co now owns 22,705 shares of the bank’s stock worth $396,000 after buying an additional 12,344 shares during the last quarter. California Public Employees Retirement System increased its holdings in Old National Bancorp by 7.1% during the fourth quarter. California Public Employees Retirement System now owns 346,425 shares of the bank’s stock worth $6,045,000 after buying an additional 23,030 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Old National Bancorp by 8.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 820,834 shares of the bank’s stock worth $14,324,000 after buying an additional 65,923 shares during the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.

About Old National Bancorp

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.

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