Point72 Asia Singapore Pte. Ltd. Invests $103,000 in Old National Bancorp (NASDAQ:ONB)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,000 shares of the bank’s stock, valued at approximately $103,000.

A number of other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Old National Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock worth $289,481,000 after purchasing an additional 1,896,748 shares during the last quarter. American Century Companies Inc. lifted its position in Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock worth $242,795,000 after buying an additional 441,887 shares during the last quarter. Verition Fund Management LLC boosted its stake in Old National Bancorp by 48.9% in the fourth quarter. Verition Fund Management LLC now owns 3,776,635 shares of the bank’s stock worth $63,787,000 after buying an additional 1,240,952 shares in the last quarter. Bank of New York Mellon Corp grew its position in Old National Bancorp by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock valued at $60,923,000 after acquiring an additional 203,088 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Old National Bancorp by 0.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock worth $57,553,000 after acquiring an additional 25,519 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ONB. StockNews.com lowered shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada raised their price objective on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their target price on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Old National Bancorp Stock Performance

Old National Bancorp stock opened at $18.29 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The firm has a market cap of $5.83 billion, a P/E ratio of 9.86 and a beta of 0.83. Old National Bancorp has a 1-year low of $12.36 and a 1-year high of $20.43. The firm has a 50-day moving average of $18.80 and a 200-day moving average of $17.63.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same quarter last year, the business posted $0.54 EPS. Sell-side analysts expect that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is currently 30.27%.

Insider Buying and Selling at Old National Bancorp

In other news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the sale, the chief executive officer now owns 287,409 shares of the company’s stock, valued at approximately $5,730,935.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total transaction of $397,000.00. Following the sale, the insider now owns 117,676 shares in the company, valued at approximately $2,335,868.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the completion of the sale, the chief executive officer now directly owns 287,409 shares in the company, valued at $5,730,935.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

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.