Jupiter Topco LLC Buys New Holdings in Old National Bancorp $ONB

Jupiter Topco LLC purchased a new position in Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 217,147 shares of the bank’s stock, valued at approximately $5,625,000. Jupiter Topco LLC owned approximately 0.06% of Old National Bancorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new stake in Old National Bancorp during the 4th quarter valued at approximately $27,000. Los Angeles Capital Management LLC bought a new position in shares of Old National Bancorp during the fourth quarter worth $36,000. Peterson Wealth Services boosted its position in shares of Old National Bancorp by 9,711.8% during the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after acquiring an additional 1,651 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Old National Bancorp during the second quarter valued at $49,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Old National Bancorp during the fourth quarter valued at $54,000. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Down 1.0%

Shares of ONB stock opened at $25.58 on Tuesday. The company has a market cap of $9.79 billion, a PE ratio of 11.37 and a beta of 0.84. Old National Bancorp has a 1 year low of $19.39 and a 1 year high of $27.36. The stock’s 50 day simple moving average is $26.32 and its two-hundred day simple moving average is $24.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94.

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

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Saturday, September 5th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, September 4th. This represents a $0.58 dividend on an annualized basis and a yield of 2.3%. Old National Bancorp’s payout ratio is 25.78%.

Wall Street Analyst Weigh In

ONB has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Royal Bank Of Canada raised their price objective on Old National Bancorp from $28.00 to $29.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, July 22nd. Citigroup boosted their target price on Old National Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, UBS Group initiated coverage on Old National Bancorp in a research note on Tuesday, July 7th. They set a “buy” rating and a $32.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company 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, CEO Chady M. Alahmar sold 11,771 shares of the 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 of the company’s stock, valued at approximately $1,677,853.71. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas J. Chulos sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total transaction of $533,200.00. Following the completion of the sale, the insider owned 53,544 shares of the company’s stock, valued at $1,427,483.04. This trade represents a 27.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.72% of the company’s stock.

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.