Schonfeld Strategic Advisors LLC Acquires 24,682 Shares of Old National Bancorp (NASDAQ:ONB)

Schonfeld Strategic Advisors LLC boosted its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 108.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,426 shares of the bank's stock after purchasing an additional 24,682 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Old National Bancorp were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in 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 valued at $79,810,000 after acquiring an additional 47,149 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Old National Bancorp in the fourth quarter worth $209,000. Raymond James Financial Inc. bought a new stake in Old National Bancorp during the 4th quarter valued at $19,708,000. KBC Group NV boosted its position in Old National Bancorp by 33.5% during the 4th quarter. KBC Group NV now owns 13,067 shares of the bank's stock valued at $284,000 after buying an additional 3,278 shares during the period. Finally, Choreo LLC bought a new stake in Old National Bancorp in the 4th quarter worth $511,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Old National Bancorp Stock Up 1.7%

Shares of ONB stock traded up $0.37 during trading hours on Tuesday, hitting $22.50. 484,792 shares of the company's stock traded hands, compared to its average volume of 2,495,802. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 13.39 and a beta of 0.85. The stock's fifty day simple moving average is $20.42 and its two-hundred day simple moving average is $21.70. Old National Bancorp has a 12-month low of $15.60 and a 12-month high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The business had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. On average, analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio (DPR) is 32.56%.

Analysts Set New Price Targets

ONB has been the subject of a number of analyst reports. StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Truist Financial initiated coverage on Old National Bancorp in a research note on Tuesday. They set a "buy" rating and a $26.00 target price on the stock. Stephens reaffirmed an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research report on Monday, April 14th. Royal Bank of Canada lowered their price objective on shares of Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Finally, Citigroup reduced their target price on Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

Old National Bancorp 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.