Old National Bancorp (NASDAQ:ONB) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its position in shares of Old National Bancorp (NASDAQ:ONB) by 6,650.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,275,792 shares of the bank’s stock after purchasing an additional 1,256,892 shares during the period. Point72 Asset Management L.P. owned 0.40% of Old National Bancorp worth $21,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ONB. Victory Capital Management Inc. grew its stake in shares of Old National Bancorp by 211.3% in the second quarter. Victory Capital Management Inc. now owns 2,922,022 shares of the bank’s stock worth $50,230,000 after purchasing an additional 1,983,476 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Old National Bancorp by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after buying an additional 1,896,748 shares in the last quarter. Verition Fund Management LLC increased its stake in Old National Bancorp by 48.9% during the 4th quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock valued at $63,787,000 after buying an additional 1,240,952 shares during the period. Equitable Trust Co. bought a new stake in shares of Old National Bancorp during the 2nd quarter worth about $8,681,000. Finally, American Century Companies Inc. lifted its stake in shares of Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock worth $242,795,000 after acquiring an additional 441,887 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Old National Bancorp Trading Up 0.4 %

Shares of NASDAQ ONB opened at $18.54 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. Old National Bancorp has a 12 month low of $12.36 and a 12 month high of $20.43. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 10.02 and a beta of 0.83. The business has a fifty day simple moving average of $18.96 and a 200-day simple moving average of $17.57.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $750.93 million during the quarter, compared to analyst estimates of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same period in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts predict that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.02%. The ex-dividend date was Thursday, September 5th. Old National Bancorp’s payout ratio is 30.27%.

Insider Buying and Selling at Old National Bancorp

In other news, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the sale, the chief executive officer now owns 287,409 shares of the company’s stock, valued at $5,730,935.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total value of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the completion of the sale, the insider now directly owns 117,676 shares of the company’s stock, valued at $2,335,868.60. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ONB. Royal Bank of Canada raised their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. StockNews.com raised Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Hovde Group started coverage on Old National Bancorp in a research note on Monday, June 3rd. They set an “outperform” rating and a $20.00 target price for the company. Finally, Barclays boosted their price target on shares of Old National Bancorp from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.63.

Old National Bancorp 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.