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

Schonfeld Strategic Advisors LLC raised its stake in Old National Bancorp (NASDAQ:ONB - Free Report) by 108.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ONB. Wellington Management Group LLP raised its position in shares of Old National Bancorp by 923.4% during the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock valued at $189,374,000 after buying an additional 7,872,318 shares during the last quarter. Norges Bank acquired a new position in Old National Bancorp in the 4th quarter valued at approximately $76,684,000. William Blair Investment Management LLC raised its holdings in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock valued at $119,236,000 after acquiring an additional 3,474,578 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Old National Bancorp in the 4th quarter worth approximately $42,316,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Old National Bancorp by 155.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,036,909 shares of the bank's stock worth $65,916,000 after purchasing an additional 1,850,249 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Old National Bancorp Trading Up 0.7 %

ONB stock opened at $21.24 on Thursday. The business has a fifty day moving average price of $20.48 and a 200 day moving average price of $21.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. 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 market capitalization of $6.79 billion, a price-to-earnings ratio of 12.64 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share 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 company had revenue of $486.87 million during the quarter, compared to analyst estimates of $478.37 million. Analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio is presently 32.56%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ONB shares. Royal Bank of Canada cut their target price on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Monday, April 14th. StockNews.com upgraded shares of Old National Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, April 23rd. Barclays cut their price target on shares of Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup lowered their price objective on 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. Two equities research 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.63.

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.

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