Foundry Partners LLC Has $546,000 Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Foundry Partners LLC trimmed its stake in Old National Bancorp (NASDAQ:ONB) by 93.1% in the third quarter, Holdings Channel reports. The firm owned 29,251 shares of the bank’s stock after selling 393,869 shares during the quarter. Foundry Partners LLC’s holdings in Old National Bancorp were worth $546,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ONB. International Assets Investment Management LLC lifted its stake in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,325 shares during the last quarter. GAMMA Investing LLC raised its stake in Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after buying an additional 1,005 shares during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Old National Bancorp in the second quarter valued at approximately $28,000. LRI Investments LLC bought a new position in shares of Old National Bancorp during the 1st quarter worth approximately $48,000. Finally, Quest Partners LLC acquired a new position in shares of Old National Bancorp during the 3rd quarter worth approximately $91,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of NASDAQ ONB opened at $21.65 on Friday. Old National Bancorp has a one year low of $14.32 and a one year high of $22.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 13.12 and a beta of 0.82. The stock’s fifty day moving average price is $19.55 and its two-hundred day moving average price is $18.47.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The business had revenue of $485.86 million for the quarter, compared to the consensus estimate of $482.20 million. During the same period in the prior year, the company posted $0.51 earnings per share. Old National Bancorp’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.59%. Old National Bancorp’s dividend payout ratio is presently 33.94%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ONB shares. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Barclays raised their target price on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Old National Bancorp 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.