SVA Plumb Wealth Management LLC cut its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 43.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,300 shares of the bank’s stock after selling 8,000 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in Old National Bancorp were worth $169,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ONB. Norges Bank acquired a new position in Old National Bancorp in the 4th quarter valued at $31,683,000. Oregon Public Employees Retirement Fund acquired a new position in Old National Bancorp in the 4th quarter valued at $57,000. Cetera Advisor Networks LLC acquired a new position in Old National Bancorp in the 4th quarter valued at $5,614,000. BlackRock Inc. grew its holdings in Old National Bancorp by 0.9% in the 4th quarter. BlackRock Inc. now owns 22,170,651 shares of the bank’s stock valued at $341,428,000 after buying an additional 196,092 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Old National Bancorp by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 1,764,286 shares of the bank’s stock valued at $27,170,000 after buying an additional 191,132 shares in the last quarter. 64.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of ONB stock opened at $16.71 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.76. Old National Bancorp has a twelve month low of $14.45 and a twelve month high of $20.95. The firm has a market cap of $2.83 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The business had revenue of $196.60 million during the quarter, compared to the consensus estimate of $198.64 million. During the same period in the prior year, the company earned $0.34 EPS. Old National Bancorp’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts expect that Old National Bancorp will post 1.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.52 annualized dividend and a dividend yield of 3.11%. Old National Bancorp’s dividend payout ratio is currently 40.31%.

A number of brokerages have commented on ONB. BidaskClub raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research raised Old National Bancorp from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Old National Bancorp has a consensus rating of “Hold” and an average price target of $20.67.

In related news, insider Daryl D. Moore sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.15, for a total transaction of $171,500.00. Following the completion of the sale, the insider now directly owns 85,979 shares in the company, valued at approximately $1,474,539.85. The sale was disclosed in a filing with the SEC, which is available through this link. 1.41% of the stock is owned by corporate insiders.

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Old National Bancorp Profile

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.

See Also: P/E Growth (PEG)

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Institutional Ownership by Quarter for Old National Bancorp (NASDAQ:ONB)

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