Edgestream Partners L.P. Sells 131,034 Shares of Old National Bancorp (NASDAQ:ONB)

Edgestream Partners L.P. decreased its stake in Old National Bancorp (NASDAQ:ONB) by 68.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 61,485 shares of the bank’s stock after selling 131,034 shares during the period. Edgestream Partners L.P.’s holdings in Old National Bancorp were worth $1,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Old National Bancorp by 1,766.7% in the third quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after buying an additional 1,325 shares during the period. GAMMA Investing LLC increased its stake in shares of Old National Bancorp by 194.8% in the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank’s stock valued at $26,000 after buying an additional 1,005 shares during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Old National Bancorp in the second quarter valued at about $28,000. Quest Partners LLC acquired a new stake in shares of Old National Bancorp in the third quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Old National Bancorp in the second quarter valued at about $103,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 0.7 %

Shares of Old National Bancorp stock opened at $23.23 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a 52 week low of $15.36 and a 52 week high of $23.76. The stock has a 50 day moving average price of $20.12 and a two-hundred day moving average price of $18.76. The stock has a market capitalization of $7.41 billion, a PE ratio of 13.98 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same quarter last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.41%. Old National Bancorp’s dividend payout ratio is presently 33.94%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ONB. Royal Bank of Canada increased their price target on Old National Bancorp from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 26th. StockNews.com cut Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays raised their target price on Old National Bancorp from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Finally, Raymond James raised Old National Bancorp from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.25.

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.