XTX Topco Ltd Sells 16,866 Shares of 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 reduced its position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 36.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ONB. USA Financial Formulas bought a new position in Old National Bancorp in the first quarter worth $50,000. Fifth Third Bancorp increased its position in Old National Bancorp by 21.9% during the 1st quarter. Fifth Third Bancorp now owns 3,875 shares of the bank's stock valued at $82,000 after buying an additional 695 shares in the last quarter. UMB Bank n.a. raised its stake in Old National Bancorp by 122.3% during the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank's stock valued at $84,000 after buying an additional 2,187 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Old National Bancorp by 157.7% in the first quarter. Versant Capital Management Inc now owns 4,298 shares of the bank's stock worth $91,000 after acquiring an additional 2,630 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Old National Bancorp by 13.6% in the fourth quarter. Covestor Ltd now owns 4,365 shares of the bank's stock worth $95,000 after acquiring an additional 524 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Stock Performance

NASDAQ:ONB traded down $0.25 on Thursday, hitting $20.47. The stock had a trading volume of 1,773,906 shares, compared to its average volume of 3,254,773. The business's 50-day simple moving average is $21.54 and its two-hundred day simple moving average is $21.62. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 12.11 and a beta of 0.86. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $24.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. Old National Bancorp had a net margin of 17.67% and a return on equity of 9.92%. The company had revenue of $633.41 million during the quarter, compared to analyst estimates of $622.83 million. During the same period in the previous year, the business posted $0.46 earnings per share. As a group, research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.7%. Old National Bancorp's payout ratio is 33.14%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial upped 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. Stephens reiterated an "overweight" rating and set a $27.00 price target on shares of Old National Bancorp in a report on Monday, April 14th. Piper Sandler reissued an "overweight" rating and set a $27.00 price target (up previously from $26.00) on shares of Old National Bancorp in a research report on Wednesday, July 23rd. Jefferies Financial Group started coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective for the company. Finally, National Bankshares set a $24.00 target price on Old National Bancorp in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.40.

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.