Old National Bancorp (NASDAQ:ONB) Stock Position Lowered by Jane Street Group LLC

Jane Street Group LLC reduced its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 80.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,436 shares of the bank's stock after selling 323,184 shares during the quarter. Jane Street Group LLC's holdings in Old National Bancorp were worth $1,681,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Old National Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock valued at $736,261,000 after acquiring an additional 290,005 shares during the period. Dimensional Fund Advisors LP grew its position in Old National Bancorp by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock valued at $371,294,000 after buying an additional 132,002 shares in the last quarter. Wellington Management Group LLP grew its position in Old National Bancorp by 923.4% in the 4th quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock valued at $189,374,000 after buying an additional 7,872,318 shares in the last quarter. Victory Capital Management Inc. grew its position in Old National Bancorp by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank's stock valued at $163,899,000 after buying an additional 326,135 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock valued at $119,236,000 after buying an additional 3,474,578 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Price Performance

Old National Bancorp stock traded down $0.93 during mid-day trading on Wednesday, hitting $20.67. The company's stock had a trading volume of 2,688,082 shares, compared to its average volume of 2,544,479. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a twelve month low of $15.60 and a twelve month high of $24.49. The stock has a market capitalization of $6.61 billion, a P/E ratio of 12.30 and a beta of 0.85. The stock's fifty day moving average price is $20.59 and its two-hundred day moving average price is $21.80.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results 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 return on equity of 10.13% and a net margin of 18.24%. The business had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. Research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be given a $0.14 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.71%. Old National Bancorp's dividend payout ratio (DPR) is 32.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ONB shares. Jefferies Financial Group began coverage on shares of Old National Bancorp in a research report on Wednesday. They issued a "hold" rating and a $24.00 target price for the company. Stephens restated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Truist Financial began coverage on Old National Bancorp in a research report on Tuesday, May 13th. They issued a "buy" rating and a $26.00 target price for the company. StockNews.com upgraded Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Raymond James cut their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.50.

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.