SG Americas Securities LLC Takes $1.01 Million Position in Old National Bancorp (NASDAQ:ONB)

SG Americas Securities LLC acquired a new stake in Old National Bancorp (NASDAQ:ONB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,815 shares of the bank’s stock, valued at approximately $1,013,000.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Old National Bancorp by 44.0% during the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank’s stock worth $127,000 after acquiring an additional 1,837 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in Old National Bancorp by 24.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 108,126 shares of the bank’s stock worth $2,291,000 after purchasing an additional 21,350 shares during the period. OLD National Bancorp IN grew its position in Old National Bancorp by 11.4% during the 1st quarter. OLD National Bancorp IN now owns 1,707,760 shares of the bank’s stock worth $36,187,000 after purchasing an additional 174,654 shares during the last quarter. UMB Bank n.a. increased its stake in Old National Bancorp by 122.3% in the first quarter. UMB Bank n.a. now owns 3,975 shares of the bank’s stock valued at $84,000 after purchasing an additional 2,187 shares during the period. Finally, Merit Financial Group LLC acquired a new position in Old National Bancorp in the first quarter valued at $214,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONB. National Bankshares set a $24.00 target price on shares of Old National Bancorp in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Old National Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 23rd. Jefferies Financial Group began coverage on shares of Old National Bancorp in a report on Wednesday, May 21st. They set a “hold” rating and a $24.00 price objective on the stock. Barclays decreased their price target on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial initiated coverage on Old National Bancorp in a report on Tuesday, May 13th. They issued a “buy” rating and a $26.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.90.

Old National Bancorp Trading Down 1.6%

Shares of ONB opened at $20.32 on Wednesday. The stock’s fifty day simple moving average is $20.78 and its 200 day simple moving average is $21.69. Old National Bancorp has a twelve month low of $15.90 and a twelve month high of $24.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $6.50 billion, a P/E ratio of 11.81 and a beta of 0.86.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $486.87 million for the quarter, compared to the consensus estimate of $478.37 million. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. On average, equities research analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.76%. Old National Bancorp’s payout ratio is 32.56%.

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.