TFC Financial Management Inc. Sells 9,290 Shares of Old National Bancorp (NASDAQ:ONB)

TFC Financial Management Inc. lessened its stake in shares of Old National Bancorp (NASDAQ:ONB) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 172,060 shares of the bank’s stock after selling 9,290 shares during the period. Old National Bancorp accounts for about 0.6% of TFC Financial Management Inc.’s investment portfolio, making the stock its 17th biggest holding. TFC Financial Management Inc.’s holdings in Old National Bancorp were worth $3,735,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in Old National Bancorp by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank’s stock worth $59,453,000 after buying an additional 90,747 shares in the last quarter. Citigroup Inc. raised its stake in Old National Bancorp by 12.1% in the third quarter. Citigroup Inc. now owns 485,023 shares of the bank’s stock worth $9,051,000 after buying an additional 52,430 shares in the last quarter. LMR Partners LLP bought a new position in Old National Bancorp in the third quarter worth approximately $452,000. JPMorgan Chase & Co. raised its stake in Old National Bancorp by 13.5% in the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock worth $65,275,000 after buying an additional 416,647 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Old National Bancorp in the fourth quarter worth approximately $209,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

ONB has been the subject of a number of recent research reports. Raymond James reissued a “strong-buy” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Stephens reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Old National Bancorp in a report on Wednesday, January 22nd. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Price Performance

Shares of ONB opened at $23.81 on Thursday. The firm has a market capitalization of $7.59 billion, a PE ratio of 14.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.92. Old National Bancorp has a 1-year low of $15.36 and a 1-year high of $24.49. The company’s fifty day moving average price is $22.58 and its 200-day moving average price is $20.63.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 14.32%. During the same quarter last year, the firm earned $0.46 EPS. On average, equities research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

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.