SG Americas Securities LLC Cuts Stock Position in Old National Bancorp $ONB

SG Americas Securities LLC decreased its position in shares of Old National Bancorp (NASDAQ:ONB) by 51.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 484,993 shares of the bank’s stock after selling 523,281 shares during the period. SG Americas Securities LLC’s holdings in Old National Bancorp were worth $10,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Old National Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,572,298 shares of the bank’s stock valued at $392,046,000 after acquiring an additional 67,362 shares in the last quarter. State Street Corp lifted its position in shares of Old National Bancorp by 5.6% during the third quarter. State Street Corp now owns 16,665,897 shares of the bank’s stock worth $365,816,000 after purchasing an additional 890,309 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Old National Bancorp by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 9,678,509 shares of the bank’s stock worth $215,958,000 after purchasing an additional 91,341 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Old National Bancorp by 37.5% in the fourth quarter. First Trust Advisors LP now owns 7,188,766 shares of the bank’s stock valued at $160,381,000 after purchasing an additional 1,961,525 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Old National Bancorp by 69.8% in the fourth quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock valued at $151,189,000 after purchasing an additional 2,785,474 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ONB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Barclays raised their price target on shares of Old National Bancorp from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Jefferies Financial Group boosted their price target on shares of Old National Bancorp from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Truist Financial upped their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Old National Bancorp from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $27.91.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $25.88 on Friday. The business has a 50-day simple moving average of $24.17 and a 200-day simple moving average of $23.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. Old National Bancorp has a one year low of $19.39 and a one year high of $26.17. The company has a market cap of $10.00 billion, a PE ratio of 13.34 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. The firm had revenue of $702.70 million for the quarter, compared to analysts’ expectations of $706.62 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 44.4% compared to the same quarter last year. On average, equities research analysts forecast that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 29.90%.

Old National Bancorp Company Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.