Soros Fund Management LLC Grows Stock Position in Old National Bancorp $ONB

Soros Fund Management LLC grew its holdings in Old National Bancorp (NASDAQ:ONB) by 62.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 855,685 shares of the bank’s stock after acquiring an additional 329,900 shares during the quarter. Soros Fund Management LLC owned 0.22% of Old National Bancorp worth $18,260,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. OLD National Bancorp IN boosted its stake in Old National Bancorp by 2,525.9% in the 2nd quarter. OLD National Bancorp IN now owns 44,844,379 shares of the bank’s stock worth $956,979,000 after purchasing an additional 43,136,619 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Old National Bancorp by 1.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 17,942,513 shares of the bank’s stock worth $380,202,000 after buying an additional 216,188 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Old National Bancorp by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 17,290,139 shares of the bank’s stock worth $366,370,000 after buying an additional 183,850 shares during the period. American Century Companies Inc. lifted its stake in shares of Old National Bancorp by 2.5% during the second quarter. American Century Companies Inc. now owns 12,631,487 shares of the bank’s stock worth $269,556,000 after buying an additional 309,812 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Old National Bancorp by 4.6% during the second quarter. Geode Capital Management LLC now owns 8,813,765 shares of the bank’s stock valued at $188,105,000 after buying an additional 389,556 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Trading Up 0.3%

Shares of NASDAQ:ONB opened at $23.32 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49. The business has a 50 day moving average of $21.20 and a two-hundred day moving average of $21.57. The company has a market capitalization of $9.11 billion, a PE ratio of 13.64 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 10.42%. The firm had revenue of $222.80 million during the quarter. As a group, analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be given a $0.14 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio is 32.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ONB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old National Bancorp in a research report on Tuesday. TD Cowen lifted their target price on Old National Bancorp from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 27th. Piper Sandler reiterated an “overweight” rating and issued a $26.00 price target (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Truist Financial decreased their price objective on shares of Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Cowen reaffirmed a “hold” rating on shares of Old National Bancorp in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.10.

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.