First Citizens Bank & Trust Co. reduced its stake in shares of Old National Bancorp (NASDAQ:ONB) by 8.5% in the 1st quarter, Holdings Channel reports. The firm owned 10,260 shares of the bank’s stock after selling 951 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Old National Bancorp were worth $168,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Advisor Group Inc. raised its position in shares of Old National Bancorp by 4.8% during the 4th quarter. Advisor Group Inc. now owns 15,148 shares of the bank’s stock worth $232,000 after purchasing an additional 690 shares during the last quarter. Piedmont Investment Advisors Inc. grew its stake in Old National Bancorp by 2.2% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 35,849 shares of the bank’s stock worth $552,000 after acquiring an additional 778 shares during the period. Crossmark Global Holdings Inc. grew its stake in Old National Bancorp by 3.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 20,966 shares of the bank’s stock worth $323,000 after acquiring an additional 790 shares during the period. Strs Ohio grew its stake in Old National Bancorp by 9.8% in the 4th quarter. Strs Ohio now owns 10,100 shares of the bank’s stock worth $155,000 after acquiring an additional 900 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Old National Bancorp by 2.1% in the 4th quarter. State of Alaska Department of Revenue now owns 50,355 shares of the bank’s stock worth $775,000 after acquiring an additional 1,025 shares during the period. Hedge funds and other institutional investors own 64.27% of the company’s stock.
Shares of Old National Bancorp stock opened at $17.14 on Thursday. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $3.00 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01.
Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 22nd. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). Old National Bancorp had a return on equity of 8.69% and a net margin of 23.05%. The firm had revenue of $204.38 million during the quarter, compared to analyst estimates of $194.62 million. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, sell-side analysts expect that Old National Bancorp will post 1.35 earnings per share for the current year.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. BidaskClub cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. ValuEngine cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Stephens reaffirmed a “buy” rating and set a $20.00 price target on shares of Old National Bancorp in a research report on Wednesday, December 19th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Old National Bancorp in a research report on Thursday, January 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Old National Bancorp has an average rating of “Hold” and an average price target of $20.38.
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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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