SVA Plumb Wealth Management LLC Lowers Holdings in Old National Bancorp (ONB)

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SVA Plumb Wealth Management LLC cut its position in Old National Bancorp (NASDAQ:ONB) by 43.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Advisors LLC increased its position in Old National Bancorp by 2.2% in the third quarter. Teachers Advisors LLC now owns 317,944 shares of the bank’s stock worth $6,136,000 after purchasing an additional 6,825 shares during the period. Morgan Stanley increased its position in Old National Bancorp by 0.9% in the third quarter. Morgan Stanley now owns 489,605 shares of the bank’s stock worth $9,450,000 after purchasing an additional 4,240 shares during the period. State of Alaska Department of Revenue increased its position in Old National Bancorp by 2.1% in the fourth quarter. State of Alaska Department of Revenue now owns 50,355 shares of the bank’s stock worth $775,000 after purchasing an additional 1,025 shares during the period. Sit Investment Associates Inc. increased its position in Old National Bancorp by 9.7% in the fourth quarter. Sit Investment Associates Inc. now owns 16,975 shares of the bank’s stock worth $261,000 after purchasing an additional 1,500 shares during the period. Finally, Peregrine Capital Management LLC increased its position in Old National Bancorp by 49.8% in the fourth quarter. Peregrine Capital Management LLC now owns 450,051 shares of the bank’s stock worth $6,931,000 after purchasing an additional 149,626 shares during the period. Hedge funds and other institutional investors own 64.52% of the company’s stock.

ONB has been the subject of a number of research reports. Zacks Investment Research lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 18th. ValuEngine lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Boenning Scattergood reiterated a “buy” rating on shares of Old National Bancorp in a research report on Thursday, January 24th. Finally, BidaskClub lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $20.67.

In other news, insider Daryl D. Moore sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 85,979 shares in the company, valued at approximately $1,474,539.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is currently owned by insiders.

Old National Bancorp stock opened at $16.71 on Thursday. The stock has a market cap of $2.83 billion, a PE ratio of 12.91, a P/E/G ratio of 1.50 and a beta of 1.01. Old National Bancorp has a 1 year low of $14.45 and a 1 year high of $20.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Monday, April 22nd. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $196.60 million during the quarter, compared to analyst estimates of $198.64 million. Old National Bancorp had a return on equity of 8.43% and a net margin of 23.07%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. Equities analysts forecast that Old National Bancorp will post 1.36 EPS for the current year.

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

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Old National Bancorp Company 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.

Further Reading: Convertible Shares

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

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