Accredited Investors Inc. Lowers Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Accredited Investors Inc. decreased its position in Old National Bancorp (NASDAQ:ONB) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 278,002 shares of the bank’s stock after selling 15,404 shares during the period. Accredited Investors Inc.’s holdings in Old National Bancorp were worth $6,034,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ONB. Lee Danner & Bass Inc. bought a new position in shares of Old National Bancorp during the fourth quarter valued at $25,000. Empowered Funds LLC bought a new stake in Old National Bancorp during the 4th quarter valued at about $28,000. Versant Capital Management Inc raised its holdings in Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank’s stock worth $36,000 after buying an additional 615 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Old National Bancorp during the fourth quarter valued at approximately $65,000. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $19.21 on Thursday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The firm has a 50 day simple moving average of $21.95 and a 200-day simple moving average of $21.41. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS 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 in the prior year, the firm earned $0.46 earnings per share. On average, analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.92%. Old National Bancorp’s payout ratio is currently 33.33%.

Analyst Ratings Changes

ONB has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target (up from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Barclays decreased their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Raymond James cut 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 note on Wednesday, April 2nd. One research 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 company. Based on data from MarketBeat, the stock has an average 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.