Busey Wealth Management decreased its stake in Old National Bancorp (NASDAQ:ONB) by 33.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 12,906 shares of the bank’s stock after selling 6,519 shares during the period. Busey Wealth Management’s holdings in Old National Bancorp were worth $211,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its position in Old National Bancorp by 0.9% in the fourth quarter. BlackRock Inc. now owns 22,170,651 shares of the bank’s stock worth $341,428,000 after acquiring an additional 196,092 shares during the period. Vanguard Group Inc raised its position in Old National Bancorp by 2.7% in the third quarter. Vanguard Group Inc now owns 15,238,108 shares of the bank’s stock worth $294,096,000 after acquiring an additional 405,285 shares during the period. Vanguard Group Inc. raised its position in Old National Bancorp by 2.7% in the third quarter. Vanguard Group Inc. now owns 15,238,108 shares of the bank’s stock worth $294,096,000 after acquiring an additional 405,285 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Old National Bancorp by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,151,217 shares of the bank’s stock worth $187,128,000 after purchasing an additional 107,159 shares in the last quarter. Finally, Mairs & Power INC increased its stake in shares of Old National Bancorp by 3.6% in the fourth quarter. Mairs & Power INC now owns 4,948,112 shares of the bank’s stock worth $76,201,000 after purchasing an additional 169,683 shares in the last quarter. 64.27% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on ONB. Zacks Investment Research downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. BidaskClub upgraded shares of Old National Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Old National Bancorp in a research note on Thursday, January 24th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.38.
ONB opened at $17.07 on Wednesday. The stock has a market capitalization of $2.99 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.83 and a quick ratio of 0.83. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95.
Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, January 22nd. The bank reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.05). The business had revenue of $204.38 million during the quarter, compared to analysts’ expectations of $194.62 million. Old National Bancorp had a return on equity of 8.69% and a net margin of 23.05%. During the same quarter in the previous year, the business earned $0.22 EPS. On average, equities research analysts anticipate that Old National Bancorp will post 1.35 EPS for the current fiscal year.
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About Old National Bancorp
Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing.
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