Leeward Investments LLC MA Sells 8,659 Shares of Old National Bancorp (NASDAQ:ONB)

Leeward Investments LLC MA lowered its stake in shares of Old National Bancorp (NASDAQ:ONB) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,102,728 shares of the bank’s stock after selling 8,659 shares during the quarter. Leeward Investments LLC MA’s holdings in Old National Bancorp were worth $18,625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ONB. Parkside Financial Bank & Trust increased its holdings in Old National Bancorp by 57.2% in the 3rd 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 during the period. Ronald Blue Trust Inc. boosted its stake in shares of Old National Bancorp by 55.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,898 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,036 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at $181,000. Trust Point Inc. acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at $189,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at $192,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group cut their target price on shares of Old National Bancorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 9th. Stephens cut their target price on shares of Old National Bancorp from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Old National Bancorp Stock Performance

Shares of ONB stock opened at $16.57 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $4.86 billion, a PE ratio of 8.96 and a beta of 0.83. The stock has a 50-day moving average of $16.47 and a 200-day moving average of $15.93. Old National Bancorp has a one year low of $11.66 and a one year high of $17.64.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Old National Bancorp had a return on equity of 16.06% and a net margin of 20.99%. The business 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 business earned $0.54 EPS. Old National Bancorp’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.38%. Old National Bancorp’s payout ratio is 30.27%.

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.