Bfsg LLC Trims Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Bfsg LLC reduced its stake in Old National Bancorp (NASDAQ:ONB) by 37.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,365 shares of the bank’s stock after selling 4,430 shares during the period. Bfsg LLC’s holdings in Old National Bancorp were worth $160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Old National Bancorp by 147.3% during the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after purchasing an additional 4,303,071 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Old National Bancorp by 121,882.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank’s stock worth $35,921,000 after purchasing an additional 1,695,383 shares during the period. New York State Common Retirement Fund increased its stake in Old National Bancorp by 469.7% during the third quarter. New York State Common Retirement Fund now owns 1,039,643 shares of the bank’s stock worth $19,400,000 after purchasing an additional 857,158 shares during the period. Geode Capital Management LLC increased its stake in Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after purchasing an additional 514,315 shares during the period. Finally, Stieven Capital Advisors L.P. purchased a new stake in Old National Bancorp during the fourth quarter worth about $10,165,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Stock Performance

Shares of ONB opened at $24.21 on Wednesday. The stock has a 50 day moving average price of $22.66 and a 200 day moving average price of $20.76. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 14.41 and a beta of 0.88. Old National Bancorp has a 52-week low of $15.38 and a 52-week high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 14.32% and a net margin of 18.24%. During the same period in the prior year, the business earned $0.46 earnings per share. Research analysts predict that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ONB. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Barclays upped their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods upped their target price on shares of 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 restated a “strong-buy” rating and set a $29.00 target price (up from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.29.

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.