Jefferies Financial Group Inc. Purchases Shares of 31,137 Old National Bancorp $ONB

Jefferies Financial Group Inc. purchased a new position in shares of Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 31,137 shares of the bank’s stock, valued at approximately $806,000.

Several other hedge funds also recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new stake in Old National Bancorp in the fourth quarter worth $27,000. Los Angeles Capital Management LLC acquired a new stake in shares of Old National Bancorp in the 4th quarter valued at about $36,000. Peterson Wealth Services grew its stake in shares of Old National Bancorp by 9,711.8% in the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock valued at $37,000 after buying an additional 1,651 shares during the period. FNY Investment Advisers LLC bought a new stake in Old National Bancorp in the 2nd quarter valued at about $49,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Old National Bancorp in the 4th quarter valued at about $54,000. Institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB stock opened at $25.85 on Monday. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 11.49 and a beta of 0.84. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $27.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a fifty day moving average of $26.31 and a 200-day moving average of $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The firm had revenue of $726.86 million during the quarter, compared to analyst estimates of $716.25 million. During the same quarter last year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts predict that Old National Bancorp will post 2.6 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Saturday, September 5th will be issued a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. Old National Bancorp’s payout ratio is presently 25.78%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ONB shares. Citigroup increased their price target on Old National Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, July 24th. UBS Group started coverage on Old National Bancorp in a report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Raymond James Financial assumed coverage on Old National Bancorp in a research report on Tuesday, July 7th. They set a “market perform” rating on the stock. TD Cowen raised their price target on shares of Old National Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group restated a “hold” rating and set a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, July 22nd. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.36.

Insider Buying and Selling at Old National Bancorp

In other news, insider Nicholas J. Chulos sold 20,000 shares of Old National Bancorp stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total value of $533,200.00. Following the completion of the transaction, the insider directly owned 53,544 shares in the company, valued at approximately $1,427,483.04. The trade was a 27.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chady M. Alahmar sold 11,771 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total value of $310,872.11. Following the sale, the chief executive officer owned 63,531 shares in the company, valued at approximately $1,677,853.71. The trade was a 15.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.72% of the company’s stock.

About Old National Bancorp

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.