Sapient Capital LLC Has $613,000 Holdings in Old National Bancorp (NASDAQ:ONB)

Sapient Capital LLC cut its position in Old National Bancorp (NASDAQ:ONB) by 20.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,232 shares of the bank’s stock after selling 9,301 shares during the period. Sapient Capital LLC’s holdings in Old National Bancorp were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ONB. Norges Bank acquired a new position in Old National Bancorp in the fourth quarter valued at about $55,808,000. Channing Capital Management LLC lifted its position in shares of Old National Bancorp by 550.2% during the third quarter. Channing Capital Management LLC now owns 3,722,335 shares of the bank’s stock worth $54,123,000 after purchasing an additional 3,149,806 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Old National Bancorp by 48.9% during the fourth quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock worth $63,787,000 after purchasing an additional 1,240,952 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Old National Bancorp by 293.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,349,974 shares of the bank’s stock worth $19,628,000 after purchasing an additional 1,006,825 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Old National Bancorp by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,279,004 shares of the bank’s stock worth $241,176,000 after purchasing an additional 841,195 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, CFO Brendon B. Falconer sold 49,375 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $16.28, for a total value of $803,825.00. Following the completion of the sale, the chief financial officer now owns 88,712 shares of the company’s stock, valued at $1,444,231.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

ONB has been the topic of a number of research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $20.00 target price on shares of Old National Bancorp in a research report on Tuesday, April 2nd. Royal Bank of Canada reiterated 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 reduced 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. Barclays upped their target price on shares of Old National Bancorp from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Finally, StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.86.

Old National Bancorp Trading Down 1.0 %

Shares of ONB traded down $0.16 on Tuesday, reaching $16.54. 2,730,356 shares of the company’s stock were exchanged, compared to its average volume of 2,195,280. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $4.85 billion, a P/E ratio of 8.94 and a beta of 0.83. The business has a 50 day moving average price of $16.48 and a two-hundred day moving average price of $15.96. Old National Bancorp has a 12 month low of $11.66 and a 12 month high of $17.64.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.45 EPS for the quarter, beating 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 firm had revenue of $440.20 million during the quarter, compared to the consensus estimate of $440.00 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Research analysts anticipate that Old National Bancorp will post 1.83 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, March 4th. Old National Bancorp’s payout ratio is presently 30.27%.

About Old National Bancorp

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.