Old National Bancorp (NASDAQ:ONB) Holdings Cut by Holocene Advisors LP

Holocene Advisors LP trimmed its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 58.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,987 shares of the bank's stock after selling 42,413 shares during the period. Holocene Advisors LP's holdings in Old National Bancorp were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Old National Bancorp by 194.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock worth $26,000 after acquiring an additional 1,005 shares in the last quarter. International Assets Investment Management LLC raised its holdings 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 purchasing an additional 1,325 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Old National Bancorp during the 2nd quarter worth about $28,000. Quest Partners LLC acquired a new position in shares of Old National Bancorp in the third quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Old National Bancorp in the second quarter valued at approximately $103,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on 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. Barclays increased their price objective 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. Raymond James upgraded Old National Bancorp from a "market perform" rating to a "strong-buy" rating and set a $28.00 price target for the company in a research report on Tuesday, November 26th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $27.00 price target (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.25.

Old National Bancorp Stock Performance

ONB traded down $0.04 on Friday, hitting $23.08. 1,906,434 shares of the stock traded hands, compared to its average volume of 3,073,555. The firm has a market capitalization of $7.36 billion, a PE ratio of 13.99 and a beta of 0.86. 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 has a 52 week low of $15.36 and a 52 week high of $23.76. The business has a fifty day moving average price of $20.40 and a two-hundred day moving average price of $18.87.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. The company had revenue of $485.86 million during the quarter, compared to analysts' expectations of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The firm's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, research analysts predict that Old National Bancorp will post 1.83 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced 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 2.43%. The ex-dividend date of this dividend is Thursday, December 5th. Old National Bancorp's payout ratio is 33.94%.

Old National Bancorp Company 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.