Insider Selling: Old National Bancorp (NASDAQ:ONB) Insider Sells 20,000 Shares of Stock

Old National Bancorp (NASDAQ:ONB) insider Kendra L. Vanzo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the transaction, the insider now directly owns 117,676 shares in the company, valued at $2,335,868.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Old National Bancorp Stock Performance

NASDAQ:ONB traded down $0.26 during trading on Monday, reaching $19.96. The company’s stock had a trading volume of 2,325,662 shares, compared to its average volume of 2,110,699. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 10.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a 50 day moving average of $17.32 and a 200-day moving average of $16.84. Old National Bancorp has a 12 month low of $12.36 and a 12 month high of $20.38.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $750.93 million during the quarter, compared to the consensus estimate of $474.10 million. Old National Bancorp had a return on equity of 15.42% and a net margin of 18.83%. During the same quarter in the prior year, the company earned $0.54 EPS. Research analysts expect that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.81%. Old National Bancorp’s payout ratio is 30.27%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ONB shares. Royal Bank of Canada upped their target price on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Hovde Group initiated coverage on Old National Bancorp in a research report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 price target for the company. Barclays increased their price target on Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $20.00 price target on shares of Old National Bancorp in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Old National Bancorp by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank’s stock worth $241,176,000 after purchasing an additional 841,195 shares in the last quarter. Channing Capital Management LLC raised its holdings in shares of Old National Bancorp by 33.9% in the 4th quarter. Channing Capital Management LLC now owns 4,985,395 shares of the bank’s stock valued at $84,203,000 after acquiring an additional 1,263,060 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Old National Bancorp by 48.9% in the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock valued at $63,787,000 after acquiring an additional 1,240,952 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Old National Bancorp by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock valued at $60,923,000 after acquiring an additional 203,088 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Old National Bancorp by 0.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock valued at $57,553,000 after buying an additional 25,519 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

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.