Jump Financial LLC Has $226,000 Stock Position in Old National Bancorp $ONB

Key Points

• Jump Financial LLC has significantly reduced its holdings in Old National Bancorp (ONB) by 75.8%, now owning 10,649 shares worth approximately $226,000.
• Old National Bancorp reported earnings of $0.53 per share for the last quarter, exceeding analyst expectations, with revenues of $633.41 million.
• The firm announced a quarterly dividend of $0.14, reflecting a 2.4% yield, with an ex-dividend date set for September 5th.

Jump Financial LLC trimmed its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 75.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,649 shares of the bank's stock after selling 33,355 shares during the quarter. Jump Financial LLC's holdings in Old National Bancorp were worth $226,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in Old National Bancorp during the first quarter valued at approximately $22,463,000. Fuller & Thaler Asset Management Inc. boosted its stake in Old National Bancorp by 1.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank's stock valued at $380,202,000 after buying an additional 216,188 shares in the last quarter. Invesco Ltd. grew its position in Old National Bancorp by 161.3% in the first quarter. Invesco Ltd. now owns 1,969,870 shares of the bank's stock valued at $41,742,000 after acquiring an additional 1,216,004 shares during the period. GAMMA Investing LLC raised its stake in Old National Bancorp by 44.0% during the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock worth $127,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Old National Bancorp by 20.8% during the first quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank's stock worth $1,548,000 after acquiring an additional 12,596 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 1.5%

NASDAQ:ONB traded down $0.35 during trading hours on Friday, hitting $22.82. 2,249,960 shares of the stock were exchanged, compared to its average volume of 2,483,097. The company has a market capitalization of $8.94 billion, a P/E ratio of 13.50 and a beta of 0.89. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company's 50 day moving average is $22.03 and its two-hundred day moving average is $21.35. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The company had revenue of $633.41 million during the quarter, compared to the consensus estimate of $622.83 million. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%.During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, sell-side analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. Old National Bancorp's payout ratio is currently 33.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ONB shares. Barclays upped their target price on shares of Old National Bancorp from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Jefferies Financial Group initiated coverage on shares of Old National Bancorp in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and issued a $27.00 target price (up previously from $26.00) on shares of Old National Bancorp in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on shares of Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial lifted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.40.

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.