Geode Capital Management LLC Sells 127,704 Shares of Old National Bancorp (NASDAQ:ONB)

Geode Capital Management LLC lessened its position in shares of Old National Bancorp (NASDAQ:ONB) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,204,265 shares of the bank’s stock after selling 127,704 shares during the period. Geode Capital Management LLC’s holdings in Old National Bancorp were worth $178,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Old National Bancorp by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank’s stock valued at $736,261,000 after purchasing an additional 290,005 shares during the period. State Street Corp boosted its holdings in Old National Bancorp by 0.3% in the third quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after acquiring an additional 42,723 shares in the last quarter. Wellington Management Group LLP grew its position in Old National Bancorp by 923.4% in the 4th quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock valued at $189,374,000 after purchasing an additional 7,872,318 shares during the period. Victory Capital Management Inc. increased its stake in Old National Bancorp by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank’s stock valued at $163,899,000 after purchasing an additional 326,135 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Old National Bancorp by 172.1% during the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after buying an additional 3,474,578 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 4.3 %

ONB opened at $17.97 on Monday. The company’s 50-day moving average price is $22.44 and its two-hundred day moving average price is $21.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $24.49. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 10.70 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter last year, the business earned $0.46 earnings per share. As a group, equities analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.12%. Old National Bancorp’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ONB shares. Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 target price (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Raymond James lowered their price target on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Stephens reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Barclays increased their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

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.