Old National Bancorp $ONB is Algebris UK Ltd.’s 10th Largest Position

Algebris UK Ltd. lifted its stake in Old National Bancorp (NASDAQ:ONB) by 57.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,844,036 shares of the bank’s stock after purchasing an additional 675,873 shares during the quarter. Old National Bancorp accounts for approximately 2.0% of Algebris UK Ltd.’s holdings, making the stock its 10th biggest position. Algebris UK Ltd.’s holdings in Old National Bancorp were worth $41,160,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ONB. Vanguard Group Inc. raised its position in shares of Old National Bancorp by 10.1% in the 3rd quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock worth $808,047,000 after purchasing an additional 3,379,577 shares during the last quarter. First Trust Advisors LP raised its position in shares of Old National Bancorp by 104.6% in the 3rd quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock worth $114,738,000 after purchasing an additional 2,672,319 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Old National Bancorp by 51.3% in the 3rd quarter. Verition Fund Management LLC now owns 3,156,744 shares of the bank’s stock worth $69,291,000 after purchasing an additional 1,070,282 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Old National Bancorp in the 4th quarter worth about $22,495,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Old National Bancorp by 2,938.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,025,789 shares of the bank’s stock worth $21,890,000 after purchasing an additional 992,026 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price target on Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. National Bank Financial set a $30.00 target price on Old National Bancorp in a research report on Thursday, January 22nd. UBS Group reissued a “neutral” rating and issued a $26.00 target price on shares of Old National Bancorp in a research report on Wednesday, February 4th. TD Cowen raised Old National Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $30.00 in a research report on Thursday, January 22nd. Finally, Truist Financial boosted their target price 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. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp has a consensus rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Price Performance

Shares of NASDAQ:ONB opened at $23.77 on Thursday. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17. The business has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $22.93. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 12.25 and a beta of 0.85.

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, topping analysts’ consensus estimates of $0.60 by $0.01. Old National Bancorp had a return on equity of 11.23% and a net margin of 18.90%.The business had revenue of $702.70 million during the quarter, compared to analyst estimates of $706.62 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Old National Bancorp’s revenue was up 44.4% on a year-over-year basis. On average, analysts expect that Old National Bancorp will post 2.58 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.58 annualized dividend and a dividend yield of 2.4%. Old National Bancorp’s dividend payout ratio is presently 29.90%.

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.