Hudson Edge Investment Partners Inc. Sells 9,899 Shares of Old National Bancorp (NASDAQ:ONB)

Hudson Edge Investment Partners Inc. trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 50.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,843 shares of the bank’s stock after selling 9,899 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Old National Bancorp were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Old National Bancorp by 0.3% during the 3rd quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after buying an additional 42,723 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Old National Bancorp by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after buying an additional 514,315 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Old National Bancorp by 147.3% during the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after purchasing an additional 4,303,071 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 period. Finally, JPMorgan Chase & Co. raised its position in shares of Old National Bancorp by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock worth $65,275,000 after purchasing an additional 416,647 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ONB shares. Raymond James reaffirmed a “strong-buy” rating and set a $29.00 target price (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $27.00 target price (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed 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. Finally, Stephens reaffirmed an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Old National Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Trading Down 2.1 %

NASDAQ ONB opened at $23.46 on Friday. The firm has a market capitalization of $7.48 billion, a P/E ratio of 13.96 and a beta of 0.88. The business has a fifty day simple moving average of $22.73 and a 200 day simple moving average of $20.87. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84.

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

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.39%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

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.