Insider Selling: Old National Bancorp (NASDAQ:ONB) CFO Sells 49,375 Shares of Stock

Old National Bancorp (NASDAQ:ONB) CFO Brendon B. Falconer sold 49,375 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $16.28, for a total transaction of $803,825.00. Following the completion of the sale, the chief financial officer now directly owns 88,712 shares of the company’s stock, valued at approximately $1,444,231.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Old National Bancorp Trading Up 0.8 %

NASDAQ ONB traded up $0.13 on Monday, hitting $16.70. The company’s stock had a trading volume of 2,397,199 shares, compared to its average volume of 2,188,755. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 1-year low of $11.66 and a 1-year high of $17.64. The company’s 50-day moving average is $16.47 and its 200 day moving average is $15.95. The firm has a market cap of $4.90 billion, a PE ratio of 8.96 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Old National Bancorp had a net margin of 20.99% and a return on equity of 16.06%. The company had revenue of $440.20 million during the quarter, compared to analysts’ expectations of $440.00 million. During the same period in the prior year, the company posted $0.54 earnings per share. Old National Bancorp’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts predict that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s dividend payout ratio (DPR) is presently 30.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ONB. Rise Advisors LLC bought a new position in Old National Bancorp during the first quarter worth $28,000. Parkside Financial Bank & Trust lifted its stake in shares of Old National Bancorp by 57.2% in the third quarter. Parkside Financial Bank & Trust now owns 2,608 shares of the bank’s stock valued at $38,000 after buying an additional 949 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Old National Bancorp by 14.5% in the fourth quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock valued at $136,000 after buying an additional 1,020 shares in the last quarter. Lynch & Associates IN lifted its stake in shares of Old National Bancorp by 18.9% in the third quarter. Lynch & Associates IN now owns 12,167 shares of the bank’s stock valued at $177,000 after buying an additional 1,932 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC bought a new position in shares of Old National Bancorp in the fourth quarter valued at $181,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on ONB shares. UBS Group cut their price objective on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Barclays boosted their price objective on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target on shares of Old National Bancorp in a report on Tuesday, April 9th. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $20.00 price objective on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

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.