Leeward Investments LLC MA Sells 77,148 Shares of Old National Bancorp (NASDAQ:ONB)

Leeward Investments LLC MA trimmed its stake in shares of Old National Bancorp (NASDAQ:ONB) by 6.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,036,370 shares of the bank’s stock after selling 77,148 shares during the quarter. Old National Bancorp comprises about 1.1% of Leeward Investments LLC MA’s portfolio, making the stock its 22nd biggest holding. Leeward Investments LLC MA’s holdings in Old National Bancorp were worth $22,494,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of ONB. International Assets Investment Management LLC lifted its position in shares of Old National Bancorp by 1,766.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,325 shares during the period. Empowered Funds LLC bought a new stake in shares of Old National Bancorp during the 4th quarter worth $28,000. Versant Capital Management Inc lifted its position in shares of Old National Bancorp by 58.4% during the 4th 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 position in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank’s stock worth $39,000 after buying an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Old National Bancorp during the 4th quarter worth $65,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James restated a “strong-buy” rating and set a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays upped their price objective on Old National Bancorp from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Stephens restated an “overweight” rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $26.29.

Old National Bancorp Price Performance

Shares of ONB opened at $23.46 on Friday. Old National Bancorp has a 12-month low of $15.38 and a 12-month high of $24.49. The business has a 50-day simple moving average of $22.73 and a two-hundred day simple moving average of $20.87. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $7.48 billion, a PE ratio of 13.96 and a beta of 0.88.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (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 period in the previous year, the firm posted $0.46 earnings per share. Analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.39%. Old National Bancorp’s payout ratio is 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.