GAMMA Investing LLC lifted its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 2,952.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,331 shares of the bank's stock after buying an additional 123,159 shares during the quarter. GAMMA Investing LLC's holdings in Old National Bancorp were worth $2,698,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Lee Danner & Bass Inc. acquired a new stake in shares of Old National Bancorp in the 4th quarter worth approximately $25,000. Empowered Funds LLC purchased a new stake in Old National Bancorp during the fourth quarter worth $28,000. Bank of Jackson Hole Trust acquired a new stake in Old National Bancorp in the fourth quarter valued at $65,000. Allworth Financial LP increased its position in shares of Old National Bancorp by 150.5% in the fourth quarter. Allworth Financial LP now owns 3,507 shares of the bank's stock valued at $82,000 after buying an additional 2,107 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Old National Bancorp by 157.7% during the 1st quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after buying an additional 2,630 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Old National Bancorp Price Performance
ONB stock traded up $0.22 during trading on Monday, hitting $20.64. The stock had a trading volume of 2,606,545 shares, compared to its average volume of 2,704,872. The company's 50 day moving average price is $20.77 and its two-hundred day moving average price is $21.70. Old National Bancorp has a 1-year low of $15.60 and a 1-year high of $24.49. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 12.29 and a beta of 0.86. 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 (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS 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 company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. On average, sell-side analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.
Old National Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, June 5th. Old National Bancorp's dividend payout ratio is currently 32.56%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on ONB shares. Raymond James lowered their price objective 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. National Bankshares set a $24.00 price objective on shares of Old National Bancorp in a research note on Tuesday, May 20th. Stephens restated an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a research report on Monday, April 14th. Citigroup lowered their target price on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada dropped their price target on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.90.
Get Our Latest Stock Report 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.
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