Key Points
- Insider sale: Nicholas Chulos sold 30,000 Old National Bancorp shares on Feb. 3 at an average price of $25.05 for proceeds of $751,500, reducing his holding by 59.48% to 20,438 shares (worth ~ $512k).
- Recent results and analyst view: Old National beat quarterly estimates with $0.62 EPS (vs. $0.59) and $714.5M revenue, and analysts have a consensus rating of "Moderate Buy" with a $27.36 target.
- Dividend and valuation: The bank pays a quarterly dividend of $0.14 ($0.56 annualized, ~2.2% yield) and trades with a market cap of $10.08B and a P/E of 14.45 (12‑month range $16.83–$25.94).
Old National Bancorp (NASDAQ:ONB - Get Free Report) insider Nicholas Chulos sold 30,000 shares of the firm's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the sale, the insider owned 20,438 shares in the company, valued at $511,971.90. The trade was a 59.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Old National Bancorp Stock Performance
Shares of ONB stock opened at $25.79 on Friday. The company has a market cap of $10.08 billion, a P/E ratio of 14.45 and a beta of 0.84. The firm has a fifty day moving average price of $23.19 and a 200 day moving average price of $22.09. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.80. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $25.94.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.03. The company had revenue of $714.50 million during the quarter, compared to the consensus estimate of $705.62 million. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.During the same period in the previous year, the business earned $0.49 EPS. Sell-side analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.
Old National Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, December 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp's dividend payout ratio is 31.28%.
Hedge Funds Weigh In On Old National Bancorp
Several institutional investors have recently added to or reduced their stakes in the stock. MAI Capital Management raised its stake in Old National Bancorp by 156.8% during the 3rd quarter. MAI Capital Management now owns 1,153 shares of the bank's stock valued at $25,000 after acquiring an additional 704 shares during the last quarter. Covestor Ltd increased its holdings in shares of Old National Bancorp by 157.0% in the third quarter. Covestor Ltd now owns 1,236 shares of the bank's stock valued at $27,000 after purchasing an additional 755 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of Old National Bancorp during the fourth quarter worth approximately $28,000. Rothschild Investment LLC lifted its holdings in shares of Old National Bancorp by 72.3% during the third quarter. Rothschild Investment LLC now owns 1,275 shares of the bank's stock worth $28,000 after purchasing an additional 535 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Old National Bancorp by 310.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank's stock valued at $33,000 after buying an additional 1,159 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on ONB shares. National Bankshares set a $30.00 target price on shares of Old National Bancorp in a report on Thursday, January 22nd. UBS Group restated a "neutral" rating and issued a $26.00 price objective on shares of Old National Bancorp in a research note on Wednesday. Truist Financial lifted their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Piper Sandler reissued an "overweight" rating and issued a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Finally, Stephens raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.36.
View Our Latest Stock Analysis on ONB
Old National Bancorp Company Profile
(
Get Free Report)
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.
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