XTX Topco Ltd Has $620,000 Stake in Old National Bancorp (NASDAQ:ONB)

Key Points

• XTX Topco Ltd reduced its stake in Old National Bancorp by 36.6% during the 1st quarter, leaving them with 29,267 shares worth approximately $620,000.
• Several institutional investors, including GAMMA Investing LLC and Teacher Retirement System of Texas, have recently adjusted their stakes in Old National Bancorp, with a total of 83.66% of the stock now owned by institutional investors.
• Old National Bancorp recently reported earnings of $0.53 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.14 per share with a dividend yield of 2.7%.

XTX Topco Ltd lowered its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 36.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,267 shares of the bank's stock after selling 16,866 shares during the quarter. XTX Topco Ltd's holdings in Old National Bancorp were worth $620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in Old National Bancorp during the first quarter worth about $50,000. Fifth Third Bancorp raised its position in Old National Bancorp by 21.9% in the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock worth $82,000 after purchasing an additional 695 shares during the last quarter. UMB Bank n.a. raised its position in Old National Bancorp by 122.3% in the 1st quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock worth $84,000 after purchasing an additional 2,187 shares during the last quarter. Versant Capital Management Inc lifted its holdings in 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 in the last quarter. Finally, Covestor Ltd boosted its position in Old National Bancorp by 13.6% in the 4th quarter. Covestor Ltd now owns 4,365 shares of the bank's stock valued at $95,000 after buying an additional 524 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Old National Bancorp in a research report on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price for the company. Stephens reissued an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Piper Sandler restated an "overweight" rating and set a $27.00 target price (up from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. Citigroup reduced their target price on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial boosted their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.40.

Old National Bancorp Trading Up 1.3%

Shares of NASDAQ:ONB traded up $0.27 during midday trading on Friday, hitting $20.74. The company had a trading volume of 2,531,898 shares, compared to its average volume of 3,392,215. The firm has a fifty day simple moving average of $21.52 and a 200 day simple moving average of $21.58. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 12.27 and a beta of 0.86. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its 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. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%. The firm had revenue of $633.41 million for the quarter, compared to analyst estimates of $622.83 million. During the same period in the previous year, the company posted $0.46 earnings per share. On average, analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. Old National Bancorp's dividend payout ratio (DPR) is currently 33.14%.

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.