12,540 Shares in Old National Bancorp (NASDAQ:ONB) Bought by Bridgefront Capital LLC

Bridgefront Capital LLC purchased a new position in Old National Bancorp (NASDAQ:ONB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,540 shares of the bank's stock, valued at approximately $272,000.

A number of other institutional investors have also bought and sold shares of ONB. Wellington Management Group LLP grew its stake in Old National Bancorp by 923.4% in the 4th quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock worth $189,374,000 after acquiring an additional 7,872,318 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Old National Bancorp in the fourth quarter worth about $78,293,000. Norges Bank acquired a new stake in Old National Bancorp during the 4th quarter valued at approximately $76,684,000. William Blair Investment Management LLC grew its position in Old National Bancorp by 172.1% during the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock worth $119,236,000 after purchasing an additional 3,474,578 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in Old National Bancorp in the fourth quarter valued at approximately $42,316,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Old National Bancorp Price Performance

ONB traded down $0.16 during midday trading on Friday, reaching $21.40. 1,600,094 shares of the company's stock were exchanged, compared to its average volume of 2,494,623. Old National Bancorp has a one year low of $15.60 and a one year high of $24.49. The business has a 50-day simple moving average of $20.42 and a two-hundred day simple moving average of $21.66. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 12.74 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The business had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. As a group, research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio is presently 32.56%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ONB. Barclays reduced their target price on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Monday, April 14th. Raymond James decreased their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Citigroup dropped their price objective on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada lowered their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Old National Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.63.

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.