Old National Bancorp $ONB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 51.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 484,993 shares of the bank’s stock after selling 523,281 shares during the period. SG Americas Securities LLC owned 0.13% of Old National Bancorp worth $10,718,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Carlson Capital L.P. boosted its holdings in shares of Old National Bancorp by 1.1% during the 4th quarter. Carlson Capital L.P. now owns 38,000 shares of the bank’s stock worth $848,000 after purchasing an additional 400 shares during the last quarter. Glenmede Investment Management LP increased its holdings in shares of Old National Bancorp by 1.0% in the third quarter. Glenmede Investment Management LP now owns 62,048 shares of the bank’s stock valued at $1,362,000 after purchasing an additional 625 shares during the last quarter. Teza Capital Management LLC increased its holdings in shares of Old National Bancorp by 6.8% in the second quarter. Teza Capital Management LLC now owns 10,993 shares of the bank’s stock valued at $235,000 after purchasing an additional 702 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Old National Bancorp by 4.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,863 shares of the bank’s stock worth $376,000 after buying an additional 703 shares in the last quarter. Finally, MAI Capital Management lifted its position in Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after buying an additional 704 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

NASDAQ ONB opened at $25.88 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $10.00 billion, a P/E ratio of 13.34 and a beta of 0.84. The firm’s 50-day moving average is $24.17 and its two-hundred day moving average is $23.56. Old National Bancorp has a 12 month low of $19.39 and a 12 month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $702.70 million during the quarter, compared to analysts’ expectations of $706.62 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. On average, sell-side analysts anticipate that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

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

Analyst Ratings Changes

ONB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on Old National Bancorp from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Stephens raised their target price on Old National Bancorp from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Truist Financial boosted their price target on shares of Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Jefferies Financial Group upped their price objective on shares of Old National Bancorp from $23.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Barclays raised their price objective on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp 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.