ExodusPoint Capital Management LP Takes Position in Old National Bancorp (NASDAQ:ONB)

ExodusPoint Capital Management LP bought a new stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,949,612 shares of the bank's stock, valued at approximately $42,316,000. ExodusPoint Capital Management LP owned approximately 0.61% of Old National Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ONB. Vanguard Group Inc. raised its position in shares of Old National Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock valued at $736,261,000 after purchasing an additional 290,005 shares in the last quarter. State Street Corp boosted its stake in Old National Bancorp by 0.3% during 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. Wellington Management Group LLP grew its holdings in Old National Bancorp by 923.4% during the 4th quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock worth $189,374,000 after acquiring an additional 7,872,318 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Old National Bancorp by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank's stock worth $155,502,000 after purchasing an additional 514,315 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Old National Bancorp by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank's stock valued at $163,899,000 after purchasing an additional 326,135 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB traded up $0.30 during trading hours on Tuesday, hitting $18.44. 925,758 shares of the company's stock traded hands, compared to its average volume of 2,353,874. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93. The company's fifty day simple moving average is $22.34 and its two-hundred day simple moving average is $21.44. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 11.00 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the firm posted $0.46 EPS. As a group, equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 3.04%. Old National Bancorp's payout ratio is 33.33%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ONB shares. Raymond James lowered their price objective on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 2nd. Barclays boosted their price target on Old National Bancorp from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Stephens reissued an "overweight" rating and set a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.00.

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.