Fj Capital Management Lowers stake in Old National Bancorp (ONB)

Old National Bancorp (ONB) : Fj Capital Management reduced its stake in Old National Bancorp by 45.99% during the most recent quarter end. The investment management company now holds a total of 1,632,000 shares of Old National Bancorp which is valued at $22,309,440 after selling 1,389,476 shares in Old National Bancorp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Old National Bancorp makes up approximately 4.20% of Fj Capital Management’s portfolio.

Other Hedge Funds, Including , Aperio Group reduced its stake in ONB by selling 362 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 19,846 shares of ONB which is valued at $271,295.Alliancebernstein boosted its stake in ONB in the latest quarter, The investment management firm added 595 additional shares and now holds a total of 225,609 shares of Old National Bancorp which is valued at $3,084,075.Cibc Asset Management Inc boosted its stake in ONB in the latest quarter, The investment management firm added 2,907 additional shares and now holds a total of 16,110 shares of Old National Bancorp which is valued at $214,263. Kassirer Asset Management Corp sold out all of its stake in ONB during the most recent quarter. The investment firm sold 35,505 shares of ONB which is valued $466,536.Evanson Asset Management boosted its stake in ONB in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 16,371 shares of Old National Bancorp which is valued at $212,823. Old National Bancorp makes up approx 0.06% of Evanson Asset Management’s portfolio.

Old National Bancorp opened for trading at $13.9 and hit $14 on the upside on Monday, eventually ending the session at $13.95, with a gain of 0.22% or 0.03 points. The heightened volatility saw the trading volume jump to 5,76,074 shares. Company has a market cap of $1,883 M.

On the company’s financial health, Old National Bancorp reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.23.Analysts expectations of $ 153.69.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Old National Bancorp. Hovde Group Initiated Old National Bancorp on Aug 3, 2016 to “Market Perform”, Price Target of the shares are set at $14.Piper Jaffray Initiated Old National Bancorp on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $13.50.

Old National Bancorp (Old National) is a financial holding company. The Company through its wholly owned banking subsidiary provides a range of services including commercial and consumer loan and depository services private banking brokerage trust investment advisory and other traditional banking services. Through its non-bank affiliates it provides insurance brokerage services and other financial services. It operates in two segments: banking which consists of lending and depository activities along with cash management private banking brokerage trust and investment advisory services and insurance which offers full-service insurance brokerage services including commercial property and casualty surety loss control services employee benefits consulting and administration and personal insurance. Old National Bank provides a range of services including commercial and consumer loan and depository services lease financing and other traditional banking services.

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