Old National Bancorp (NASDAQ:ONB) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its position in Old National Bancorp (NASDAQ:ONB) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 332,387 shares of the bank’s stock after selling 40,000 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.10% of Old National Bancorp worth $6,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ONB. Dimensional Fund Advisors LP grew its holdings in shares of Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after buying an additional 1,896,748 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock valued at $242,795,000 after purchasing an additional 441,887 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Old National Bancorp by 147.3% in the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock valued at $134,820,000 after purchasing an additional 4,303,071 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Old National Bancorp by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank’s stock worth $67,733,000 after purchasing an additional 78,983 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Old National Bancorp by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock worth $60,923,000 after purchasing an additional 203,088 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $22.94 on Tuesday. The firm’s fifty day simple moving average is $19.63 and its 200-day simple moving average is $18.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.32 billion, a PE ratio of 13.90 and a beta of 0.82. Old National Bancorp has a fifty-two week low of $14.32 and a fifty-two week high of $23.76.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that Old National Bancorp will post 1.84 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp’s payout ratio is currently 33.94%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ONB shares. Barclays boosted their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. StockNews.com upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Old National Bancorp 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.