Laurion Capital Management LP Takes $483,000 Position in Old National Bancorp (NASDAQ:ONB)

Laurion Capital Management LP purchased a new position in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,254 shares of the bank's stock, valued at approximately $483,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Old National Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank's stock worth $79,810,000 after purchasing an additional 47,149 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Old National Bancorp in the fourth quarter valued at approximately $209,000. Raymond James Financial Inc. acquired a new stake in shares of Old National Bancorp in the 4th quarter worth about $19,708,000. KBC Group NV increased its holdings in shares of Old National Bancorp by 33.5% during the fourth quarter. KBC Group NV now owns 13,067 shares of the bank's stock valued at $284,000 after purchasing an additional 3,278 shares during the period. Finally, Choreo LLC bought a new stake in Old National Bancorp during the fourth quarter worth approximately $511,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Old National Bancorp Stock Down 1.1%

Shares of NASDAQ:ONB traded down $0.25 during midday trading on Thursday, reaching $22.32. 2,015,310 shares of the company were exchanged, compared to its average volume of 2,511,817. The firm has a market cap of $7.14 billion, a PE ratio of 13.29 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $15.60 and a fifty-two week high of $24.49. The stock has a fifty day simple moving average of $20.46 and a two-hundred day simple moving average of $21.71. 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 (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. The company had revenue of $486.87 million for the quarter, compared to analyst estimates of $478.37 million. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. As a group, sell-side analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.56 annualized dividend and a yield of 2.51%. Old National Bancorp's payout ratio is currently 32.56%.

Analysts Set New Price Targets

Several research firms have issued reports on ONB. Stephens restated an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Truist Financial initiated coverage on shares of Old National Bancorp in a research report on Tuesday. They issued a "buy" rating and a $26.00 price target on the stock. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Raymond James decreased their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays cut their target price on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $25.67.

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.