Jump Financial LLC Buys Shares of 44,004 Old National Bancorp (NASDAQ:ONB)

Jump Financial LLC purchased a new stake in Old National Bancorp (NASDAQ:ONB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 44,004 shares of the bank's stock, valued at approximately $955,000.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings 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 acquiring an additional 7,872,318 shares during the period. Norges Bank bought a new position in Old National Bancorp during the 4th quarter valued at about $76,684,000. William Blair Investment Management LLC lifted its holdings in Old National Bancorp by 172.1% during 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 purchasing an additional 3,474,578 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in Old National Bancorp in the fourth quarter valued at about $42,316,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Old National Bancorp by 121,882.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,696,774 shares of the bank's stock worth $35,921,000 after buying an additional 1,695,383 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating for the company in a report on Wednesday. Raymond James dropped their target price on shares of Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup lowered their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday. Stephens reaffirmed an "overweight" rating and set a $27.00 price objective on shares of Old National Bancorp in a report on Monday, April 14th. Finally, Barclays lowered their target price on 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. Two 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.63.

Old National Bancorp Trading Down 0.4 %

Shares of NASDAQ ONB traded down $0.09 during midday trading on Friday, reaching $20.84. 2,535,688 shares of the stock were exchanged, compared to its average volume of 2,463,910. 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 12 month low of $15.60 and a 12 month high of $24.49. The business has a 50-day simple moving average of $20.97 and a two-hundred day simple moving average of $21.48. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 12.40 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $478.37 million. As a group, equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp's dividend payout ratio is 32.56%.

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.