Jump Financial LLC Sells 33,355 Shares of 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 stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 75.8% in the first quarter, according to the company in its most recent disclosure with the Securities & 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 hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in Old National Bancorp in the first quarter valued at approximately $22,463,000. Fuller & Thaler Asset Management Inc. grew its stake in Old National Bancorp by 1.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank's stock valued at $380,202,000 after purchasing an additional 216,188 shares in the last quarter. Invesco Ltd. grew its stake 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 purchasing an additional 1,216,004 shares in the last quarter. GAMMA Investing LLC grew its stake in Old National Bancorp by 44.0% in the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock valued at $127,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Old National Bancorp by 20.8% in the first quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank's stock valued at $1,548,000 after purchasing an additional 12,596 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler restated an "overweight" rating and issued a $27.00 price target (up from $26.00) on shares of Old National Bancorp in a research note on Wednesday, July 23rd. Jefferies Financial Group assumed coverage on Old National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Truist Financial raised their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, July 11th. National Bankshares set a $24.00 price objective on Old National Bancorp in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada raised their price objective on Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. One 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. According to data from MarketBeat.com, Old National Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $26.40.

Old National Bancorp Stock Performance

NASDAQ:ONB traded up $0.19 during mid-day trading on Wednesday, hitting $22.49. 3,110,358 shares of the stock were exchanged, compared to its average volume of 2,461,621. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.31 and a beta of 0.89. The firm's 50-day simple moving average is $22.07 and its 200 day simple moving average is $21.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.92 and a current ratio of 0.92. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $633.41 million during the quarter, compared to analysts' expectations 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 period last year, the firm posted $0.46 EPS. As a group, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 33.14%.

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.