Ghisallo Capital Management LLC Takes Position in Old National Bancorp (NASDAQ:ONB)

Ghisallo Capital Management LLC acquired a new position in Old National Bancorp (NASDAQ:ONB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 171,000 shares of the bank's stock, valued at approximately $3,712,000. Ghisallo Capital Management LLC owned approximately 0.05% of Old National Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Lee Danner & Bass Inc. acquired a new position in Old National Bancorp during the 4th quarter valued at about $25,000. Empowered Funds LLC acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $28,000. Versant Capital Management Inc grew its position in shares of Old National Bancorp by 58.4% during the 4th quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock worth $36,000 after buying an additional 615 shares during the period. UMB Bank n.a. grew its position in shares of Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after buying an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Old National Bancorp during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Stock Up 1.1 %

Shares of ONB stock traded up $0.22 during trading hours on Thursday, hitting $20.81. 1,722,668 shares of the company were exchanged, compared to its average volume of 2,475,613. The business has a 50 day moving average of $20.71 and a two-hundred day moving average of $21.54. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 52 week low of $15.60 and a 52 week high of $24.49. The company has a market capitalization of $6.65 billion, a PE ratio of 12.41 and a beta of 0.82.

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

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio is presently 32.56%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Raymond James lowered their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. 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 research note on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. Finally, Barclays lowered their target price on shares of 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. Two 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. According to data from MarketBeat, the company presently 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.