Y Intercept Hong Kong Ltd Buys Shares of 37,098 Old National Bancorp (NASDAQ:ONB)

Y Intercept Hong Kong Ltd purchased a new position in Old National Bancorp (NASDAQ:ONB - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,098 shares of the bank's stock, valued at approximately $692,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Studio Investment Management LLC raised its stake in Old National Bancorp by 2.6% during the 3rd quarter. Studio Investment Management LLC now owns 20,803 shares of the bank's stock valued at $388,000 after purchasing an additional 524 shares during the period. CWM LLC raised its position in shares of Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after buying an additional 591 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Old National Bancorp by 1.2% in the third quarter. Stifel Financial Corp now owns 53,594 shares of the bank's stock worth $1,000,000 after buying an additional 648 shares in the last quarter. Forum Financial Management LP boosted its position in shares of Old National Bancorp by 3.9% during the second quarter. Forum Financial Management LP now owns 20,152 shares of the bank's stock worth $346,000 after acquiring an additional 748 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Old National Bancorp by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 105,231 shares of the bank's stock valued at $1,809,000 after acquiring an additional 1,207 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Old National Bancorp Trading Down 0.7 %

ONB stock traded down $0.17 during trading on Friday, hitting $22.53. The company had a trading volume of 1,479,723 shares, compared to its average volume of 2,143,222. Old National Bancorp has a 52-week low of $15.36 and a 52-week high of $23.76. The company has a 50 day simple moving average of $20.87 and a 200-day simple moving average of $19.08. The firm has a market capitalization of $7.19 billion, a P/E ratio of 13.65 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 EPS for the quarter, hitting analysts' consensus estimates of $0.46. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. The business had revenue of $485.86 million for the quarter, compared to analyst estimates of $482.20 million. During the same period last year, the company posted $0.51 earnings per share. The company's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Old National Bancorp will post 1.83 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, December 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 33.94%.

Analyst Ratings Changes

Several brokerages have commented on ONB. Barclays boosted their price target on shares of Old National Bancorp from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, December 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $27.00 price objective (up previously from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Royal Bank of Canada increased their target price on Old National Bancorp from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Old National Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $24.25.

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.