AQR Capital Management LLC Sells 28,686 Shares of Old National Bancorp (NASDAQ:ONB)

AQR Capital Management LLC trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 332,994 shares of the bank's stock after selling 28,686 shares during the quarter. AQR Capital Management LLC owned approximately 0.10% of Old National Bancorp worth $7,228,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust bought a new stake in Old National Bancorp during the fourth quarter valued at approximately $576,000. Northern Trust Corp boosted its position in shares of Old National Bancorp by 17.6% in the fourth quarter. Northern Trust Corp now owns 4,277,530 shares of the bank's stock worth $92,844,000 after purchasing an additional 641,055 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Old National Bancorp by 155.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,036,909 shares of the bank's stock worth $65,916,000 after purchasing an additional 1,850,249 shares during the period. Ghisallo Capital Management LLC bought a new position in shares of Old National Bancorp in the fourth quarter worth approximately $3,712,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Old National Bancorp in the fourth quarter worth approximately $8,031,000. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Up 1.7%

ONB stock traded up $0.37 during mid-day trading on Tuesday, reaching $22.50. 484,792 shares of the stock traded hands, compared to its average volume of 2,495,802. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. Old National Bancorp has a one year low of $15.60 and a one year high of $24.49. The stock has a market capitalization of $7.19 billion, a PE ratio of 13.39 and a beta of 0.85. The business has a 50-day moving average price of $20.42 and a two-hundred day moving average price of $21.70.

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

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 2.49%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's payout ratio is presently 32.56%.

Wall Street Analyst Weigh In

ONB has been the subject of a number of recent analyst reports. Stephens reiterated an "overweight" rating and issued a $27.00 price target on shares of Old National Bancorp in a research report on Monday, April 14th. 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 on the stock in a report on Wednesday, April 23rd. Truist Financial initiated coverage on shares of Old National Bancorp in a report on Tuesday. They issued a "buy" rating and a $26.00 target price on the stock. Citigroup decreased their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Raymond James decreased 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 research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $25.67.

About Old National Bancorp

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.