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

Leeward Investments LLC MA decreased its position in Old National Bancorp (NASDAQ:ONB) by 6.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,036,370 shares of the bank’s stock after selling 77,148 shares during the period. Old National Bancorp comprises 1.1% of Leeward Investments LLC MA’s portfolio, making the stock its 22nd biggest position. Leeward Investments LLC MA owned about 0.32% of Old National Bancorp worth $22,494,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ONB. Empowered Funds LLC acquired a new position in shares of Old National Bancorp during the 4th quarter worth approximately $28,000. International Assets Investment Management LLC increased 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 worth $26,000 after purchasing an additional 1,325 shares during the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 615 shares during the last quarter. UMB Bank n.a. increased 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 purchasing an additional 663 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Old National Bancorp during the 4th quarter worth approximately $65,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

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

Old National Bancorp Stock Performance

Shares of NASDAQ ONB opened at $23.46 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The stock’s fifty day moving average price is $22.73 and its two-hundred day moving average price is $20.87. Old National Bancorp has a one year low of $15.38 and a one year high of $24.49. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 13.96 and a beta of 0.88.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 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 last year, the business posted $0.46 EPS. On average, equities analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.39%. Old National Bancorp’s payout ratio is 33.33%.

About Old National Bancorp

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.