Point72 DIFC Ltd bought a new stake in Old National Bancorp (NASDAQ:ONB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,212 shares of the bank's stock, valued at approximately $638,000.
Several other large investors have also recently added to or reduced their stakes in ONB. GAMMA Investing LLC raised its stake in Old National Bancorp by 194.8% during the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock worth $26,000 after purchasing an additional 1,005 shares during the period. International Assets Investment Management LLC raised its position in shares of Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock worth $26,000 after buying an additional 1,325 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Old National Bancorp in the 2nd quarter worth $28,000. Quest Partners LLC acquired a new position in Old National Bancorp in the third quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Old National Bancorp during the second quarter valued at about $103,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Old National Bancorp Price Performance
ONB traded down $0.04 on Friday, reaching $23.08. The company had a trading volume of 1,905,434 shares, compared to its average volume of 2,143,637. Old National Bancorp has a one year low of $15.36 and a one year high of $23.76. The company has a market capitalization of $7.36 billion, a P/E ratio of 13.99 and a beta of 0.86. The company has a fifty day moving average of $20.31 and a 200-day moving average of $18.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83.
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 for the quarter, meeting 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 business had revenue of $485.86 million during the quarter, compared to analysts' expectations of $482.20 million. During the same quarter last year, the business posted $0.51 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Old National Bancorp will post 1.84 earnings per share for the current year.
Old National Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp's dividend payout ratio is currently 33.94%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on ONB shares. Keefe, Bruyette & Woods upped their price target on shares of Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Barclays upped their target price on Old National Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday. Piper Sandler reissued an "overweight" rating and set a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Old National Bancorp from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.25.
Check Out Our Latest Report on Old National Bancorp
Old National Bancorp Profile
(
Free Report)
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.
Featured Stories
Before you consider Old National Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Old National Bancorp wasn't on the list.
While Old National Bancorp currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
