AQR Capital Management LLC Has $7.23 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

AQR Capital Management LLC trimmed its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 332,994 shares of the bank's stock after selling 28,686 shares during the quarter. AQR Capital Management LLC owned about 0.10% of Old National Bancorp worth $7,228,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Lee Danner & Bass Inc. purchased a new position in shares of Old National Bancorp in the 4th quarter valued at $25,000. Empowered Funds LLC bought a new position in Old National Bancorp during the 4th quarter valued at $28,000. UMB Bank n.a. grew its stake in Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock worth $39,000 after purchasing an additional 663 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of Old National Bancorp in the 4th quarter valued at approximately $65,000. Finally, Allworth Financial LP increased its stake in Old National Bancorp by 150.5% during the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock valued at $82,000 after purchasing an additional 2,107 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ONB. Stephens reaffirmed an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Monday, April 14th. Royal Bank of Canada dropped their target price on 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. StockNews.com raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Raymond James decreased their target price on 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. Finally, Citigroup reduced their target price 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. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.63.

Old National Bancorp Stock Down 0.7 %

NASDAQ ONB traded down $0.16 during 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. 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 fifty-two week low of $15.60 and a fifty-two week high of $24.49. The company's fifty day simple moving average is $20.42 and its 200-day simple moving average is $21.66. The firm has a market capitalization of $6.84 billion, a PE ratio of 12.74 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. Sell-side analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.62%. Old National Bancorp's dividend payout ratio (DPR) is currently 32.56%.

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.