Alliancebernstein L.P. Sells 7,603 Shares of Old National Bancorp (NASDAQ:ONB)

Alliancebernstein L.P. lessened its holdings in Old National Bancorp (NASDAQ:ONB) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 659,707 shares of the bank’s stock after selling 7,603 shares during the quarter. Alliancebernstein L.P. owned 0.21% of Old National Bancorp worth $14,319,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ONB. Lee Danner & Bass Inc. acquired a new position in shares of Old National Bancorp during the 4th quarter worth about $25,000. Empowered Funds LLC bought a new stake in Old National Bancorp during the fourth quarter worth about $28,000. Versant Capital Management Inc boosted its position in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock valued at $36,000 after purchasing an additional 615 shares during the last quarter. UMB Bank n.a. grew its stake in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock valued at $39,000 after purchasing an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 1.0 %

Shares of ONB opened at $17.95 on Wednesday. The firm has a market cap of $5.73 billion, a P/E ratio of 10.68 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The firm’s 50-day simple moving average is $22.11 and its 200 day simple moving average is $21.41.

Old National Bancorp (NASDAQ:ONB) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 company earned $0.46 EPS. On average, analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ONB shares. Barclays cut their price objective on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday. Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Raymond James cut their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.71.

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.