Old National Bancorp (NASDAQ:ONB - Get Free Report) CEO Chady Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the completion of the sale, the chief executive officer owned 63,531 shares of the company's stock, valued at $1,677,853.71. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Old National Bancorp Stock Up 0.9%
NASDAQ:ONB opened at $26.64 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.90 and a debt-to-equity ratio of 0.95. Old National Bancorp has a twelve month low of $19.39 and a twelve month high of $27.32. The company has a market cap of $10.19 billion, a PE ratio of 11.84 and a beta of 0.83. The company's 50 day moving average is $25.43 and its two-hundred day moving average is $24.15.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The business had revenue of $732.55 million during the quarter, compared to analysts' expectations of $716.25 million. During the same quarter last year, the company posted $0.53 earnings per share. The business's quarterly revenue was up 13.2% on a year-over-year basis. Analysts anticipate that Old National Bancorp will post 2.6 EPS for the current year.
Old National Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were paid a $0.145 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. Old National Bancorp's dividend payout ratio (DPR) is 25.78%.
Wall Street Analysts Forecast Growth
ONB has been the topic of several research analyst reports. Citigroup boosted their price target on Old National Bancorp from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, July 24th. UBS Group started coverage on Old National Bancorp in a research note on Tuesday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on Old National Bancorp from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Barclays upped their target price on Old National Bancorp from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Old National Bancorp in a report on Thursday, June 4th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.36.
Get Our Latest Report on Old National Bancorp
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Old National Bancorp during the 4th quarter worth about $27,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new position in shares of Old National Bancorp in the 4th quarter valued at about $36,000. Peterson Wealth Services increased its stake in shares of Old National Bancorp by 9,711.8% in the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank's stock valued at $37,000 after purchasing an additional 1,651 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Old National Bancorp in the 2nd quarter worth about $49,000. Institutional investors and hedge funds own 83.66% of the company's stock.
About Old National Bancorp
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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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