JPMorgan Chase & Co. cut its stake in shares of Old National Bancorp (NASDAQ:ONB) by 51.5% during the third quarter, Holdings Channel reports. The institutional investor owned 75,485 shares of the company’s stock after selling 80,142 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Old National Bancorp worth $1,062,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Old National Bancorp by 140.1% in the third quarter. Sei Investments Co. now owns 69,792 shares of the company’s stock valued at $981,000 after buying an additional 40,722 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Old National Bancorp by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 1,906,830 shares of the company’s stock valued at $26,811,000 after buying an additional 71,847 shares during the last quarter. Aperio Group LLC increased its position in shares of Old National Bancorp by 8.8% in the third quarter. Aperio Group LLC now owns 21,592 shares of the company’s stock valued at $304,000 after buying an additional 1,746 shares during the last quarter. First Trust Advisors LP increased its position in shares of Old National Bancorp by 3.8% in the third quarter. First Trust Advisors LP now owns 585,473 shares of the company’s stock valued at $8,232,000 after buying an additional 21,445 shares during the last quarter. Finally, OLD National Bancorp IN increased its position in shares of Old National Bancorp by 3.9% in the third quarter. OLD National Bancorp IN now owns 1,958,016 shares of the company’s stock valued at $27,530,000 after buying an additional 74,245 shares during the last quarter. Institutional investors own 70.65% of the company’s stock.
Old National Bancorp (NASDAQ:ONB) opened at 17.85 on Friday. The firm has a market cap of $2.41 billion, a P/E ratio of 17.00 and a beta of 1.14. The stock has a 50 day moving average price of $17.86 and a 200-day moving average price of $15.26. Old National Bancorp has a 1-year low of $10.69 and a 1-year high of $18.55.
Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 24th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $172.70 million for the quarter, compared to analysts’ expectations of $155.05 million. Old National Bancorp had a net margin of 19.18% and a return on equity of 7.68%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts forecast that Old National Bancorp will post $1.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a $0.13 dividend. The ex-dividend date is Monday, February 27th. This represents a $0.52 dividend on an annualized basis and a yield of 2.91%. Old National Bancorp’s dividend payout ratio (DPR) is 49.52%.
Several research analysts have recently commented on ONB shares. Zacks Investment Research raised Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, December 16th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Old National Bancorp in a report on Tuesday, November 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.69.
In related news, Chairman Robert G. Jones sold 20,008 shares of Old National Bancorp stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $17.42, for a total value of $348,539.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.
About Old National Bancorp
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services.
Want to see what other hedge funds are holding ONB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old National Bancorp (NASDAQ:ONB).