LRI Investments LLC Invests $48,000 in Old National Bancorp (NASDAQ:ONB)

LRI Investments LLC bought a new position in shares of Old National Bancorp (NASDAQ:ONB) in the first quarter, HoldingsChannel reports. The institutional investor bought 2,758 shares of the bank’s stock, valued at approximately $48,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Old National Bancorp during the first quarter worth $28,000. Parkside Financial Bank & Trust raised its position in shares of Old National Bancorp by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,258 shares of the bank’s stock worth $55,000 after acquiring an additional 650 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Old National Bancorp by 14.5% in the fourth quarter. Quadrant Capital Group LLC now owns 8,045 shares of the bank’s stock valued at $136,000 after purchasing an additional 1,020 shares during the last quarter. Trust Point Inc. bought a new stake in Old National Bancorp in the fourth quarter valued at about $189,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Old National Bancorp in the fourth quarter valued at about $192,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Old National Bancorp

In related news, CEO Chady M. Alahmar sold 17,165 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $15.90, for a total transaction of $272,923.50. Following the completion of the transaction, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at $795,015.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.07% of the stock is owned by insiders.

Old National Bancorp Trading Up 1.5 %

NASDAQ:ONB traded up $0.29 on Friday, reaching $20.22. The company’s stock had a trading volume of 2,663,771 shares, compared to its average volume of 2,688,209. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 0.94. The firm has a market cap of $6.45 billion, a PE ratio of 10.93 and a beta of 0.84. The business’s 50-day moving average price is $17.32 and its two-hundred day moving average price is $16.84. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.38.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The company had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a return on equity of 15.42% and a net margin of 18.83%. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that Old National Bancorp will post 1.85 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.77%. Old National Bancorp’s dividend payout ratio is currently 30.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 price objective on shares of Old National Bancorp in a report on Tuesday, April 2nd. Hovde Group assumed coverage on Old National Bancorp in a report on Monday, June 3rd. They issued an “outperform” rating and a $20.00 price objective for the company. Royal Bank of Canada upped their price objective on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barclays upped their price objective on Old National Bancorp from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.63.

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.