Point72 Asia Singapore Pte. Ltd. Acquires Shares of 6,000 Old National Bancorp (NASDAQ:ONB)

Point72 Asia Singapore Pte. Ltd. bought a new position in Old National Bancorp (NASDAQ:ONB) during the second quarter, HoldingsChannel.com reports. The fund bought 6,000 shares of the bank’s stock, valued at approximately $103,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Leuthold Group LLC bought a new stake in shares of Old National Bancorp in the 1st quarter worth $3,142,000. Wealth Enhancement Advisory Services LLC raised its position in Old National Bancorp by 188.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,458 shares of the bank’s stock worth $885,000 after buying an additional 33,615 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Old National Bancorp by 330.1% during the fourth quarter. Hsbc Holdings PLC now owns 93,149 shares of the bank’s stock valued at $1,581,000 after purchasing an additional 71,489 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Old National Bancorp by 35.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 113,082 shares of the bank’s stock valued at $1,969,000 after purchasing an additional 29,400 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in Old National Bancorp by 27.9% in the first quarter. First Eagle Investment Management LLC now owns 446,698 shares of the bank’s stock worth $7,777,000 after purchasing an additional 97,350 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Price Performance

Old National Bancorp stock opened at $18.29 on Friday. Old National Bancorp has a 52-week low of $12.36 and a 52-week high of $20.43. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 9.86 and a beta of 0.83. The firm’s fifty day moving average is $18.80 and its 200 day moving average is $17.63. 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 (NASDAQ:ONB) last issued 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 for the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same period in the previous year, the firm posted $0.54 earnings per share. Sell-side analysts forecast that Old National Bancorp will post 1.85 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.06%. Old National Bancorp’s dividend payout ratio is presently 30.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ONB shares. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Finally, Barclays boosted their price target on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

Insiders Place Their Bets

In other Old National Bancorp news, insider Kendra L. Vanzo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, the insider now owns 117,676 shares of the company’s stock, valued at $2,335,868.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kendra L. Vanzo sold 20,000 shares of the firm’s 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 approximately $2,335,868.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at $5,730,935.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

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.