Alyeska Investment Group L.P. bought a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,607,127 shares of the bank's stock, valued at approximately $78,293,000. Alyeska Investment Group L.P. owned approximately 1.13% of Old National Bancorp at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Lee Danner & Bass Inc. acquired a new position in Old National Bancorp during the 4th quarter worth approximately $25,000. Empowered Funds LLC acquired a new position in shares of Old National Bancorp during the fourth quarter worth $28,000. Versant Capital Management Inc boosted its stake in shares of Old National Bancorp by 58.4% in the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after purchasing an additional 615 shares during the period. UMB Bank n.a. grew its holdings in Old National Bancorp by 58.9% during the 4th quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after purchasing an additional 663 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in Old National Bancorp during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 83.66% of the company's stock.
Old National Bancorp Stock Performance
Shares of NASDAQ ONB opened at $21.24 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The firm's 50-day moving average price is $20.62 and its two-hundred day moving average price is $21.57. Old National Bancorp has a 52-week low of $15.60 and a 52-week high of $24.49. The stock has a market capitalization of $6.78 billion, a P/E ratio of 12.64 and a beta of 0.82.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $478.37 million. As a group, sell-side analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.
Old National Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.64%. Old National Bancorp's dividend payout ratio is presently 32.56%.
Wall Street Analysts Forecast Growth
ONB has been the subject of several recent analyst reports. Barclays lowered 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. Citigroup reduced their price target on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. 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. Finally, Raymond James cut their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Old National Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $25.63.
Check Out Our Latest Analysis on Old National Bancorp
About Old National Bancorp
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ONB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old National Bancorp (NASDAQ:ONB - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Old National Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Old National Bancorp wasn't on the list.
While Old National Bancorp currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
