Y Intercept Hong Kong Ltd acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,098 shares of the bank's stock, valued at approximately $692,000.
A number of other hedge funds also recently bought and sold shares of ONB. Dimensional Fund Advisors LP grew its stake in shares of Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank's stock valued at $289,481,000 after buying an additional 1,896,748 shares during the last quarter. State Street Corp lifted its stake in shares of Old National Bancorp by 0.3% in the 3rd quarter. State Street Corp now owns 14,787,843 shares of the bank's stock valued at $275,941,000 after acquiring an additional 42,723 shares during the last quarter. American Century Companies Inc. boosted its holdings in Old National Bancorp by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank's stock valued at $242,795,000 after acquiring an additional 441,887 shares during the period. Victory Capital Management Inc. grew its position in Old National Bancorp by 147.3% during the 3rd quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank's stock worth $134,820,000 after acquiring an additional 4,303,071 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Old National Bancorp by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,629,864 shares of the bank's stock worth $67,733,000 after purchasing an additional 78,983 shares during the period. Institutional investors own 83.66% of the company's stock.
Several brokerages have recently issued reports on ONB. Barclays raised their target price on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Royal Bank of Canada raised their price target on shares of Old National Bancorp from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 26th. StockNews.com downgraded shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, December 3rd. Raymond James upgraded shares of Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 target price for the company in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted their price target on Old National Bancorp from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old National Bancorp currently has an average rating of "Moderate Buy" and an average price target of $24.25.
Check Out Our Latest Research Report on ONB
Shares of NASDAQ ONB opened at $22.53 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.92 and a quick ratio of 0.92. Old National Bancorp has a 1 year low of $15.36 and a 1 year high of $23.76. The company's 50-day moving average is $20.87 and its 200 day moving average is $19.06. The stock has a market capitalization of $7.19 billion, a P/E ratio of 13.65 and a beta of 0.86.
Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The firm had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. During the same quarter in the prior year, the company earned $0.51 EPS. The business's revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Old National Bancorp will post 1.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be 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 is Thursday, December 5th. Old National Bancorp's dividend payout ratio is currently 33.94%.
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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