Squarepoint Ops LLC Invests $2.36 Million in Old National Bancorp (NASDAQ:ONB)

Squarepoint Ops LLC purchased a new stake in Old National Bancorp (NASDAQ:ONB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 108,661 shares of the bank's stock, valued at approximately $2,358,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ONB. Sanctuary Advisors LLC boosted its stake in shares of Old National Bancorp by 1.4% during the 4th quarter. Sanctuary Advisors LLC now owns 32,029 shares of the bank's stock valued at $762,000 after buying an additional 432 shares during the last quarter. Mariner LLC raised its holdings in shares of Old National Bancorp by 0.9% during the fourth quarter. Mariner LLC now owns 57,744 shares of the bank's stock valued at $1,253,000 after buying an additional 509 shares during the last quarter. Covestor Ltd raised its stake in Old National Bancorp by 13.6% during the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank's stock valued at $95,000 after acquiring an additional 524 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Old National Bancorp by 3.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,744 shares of the bank's stock worth $356,000 after acquiring an additional 615 shares during the period. Finally, Baird Financial Group Inc. increased its stake in shares of Old National Bancorp by 2.3% during the fourth quarter. Baird Financial Group Inc. now owns 29,877 shares of the bank's stock valued at $648,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

ONB has been the topic of a number of research reports. Jefferies Financial Group started coverage on Old National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective on the stock. Wall Street Zen raised shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday, April 14th. Citigroup reduced their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial started coverage on Old National Bancorp in a report on Tuesday, May 13th. They issued a "buy" rating and a $26.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $25.36.

Old National Bancorp Price Performance

Shares of ONB traded down $0.17 during mid-day trading on Friday, hitting $20.92. 2,262,684 shares of the company traded hands, compared to its average volume of 2,667,921. The business has a 50-day moving average of $20.53 and a 200 day moving average of $21.78. Old National Bancorp has a one year low of $15.60 and a one year high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 12.45 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate 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 company had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. As a group, equities analysts expect 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 will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.68%. Old National Bancorp's payout ratio is currently 32.56%.

Old National Bancorp Company 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.