XTX Topco Ltd Invests $1 Million in Old National Bancorp (NASDAQ:ONB)

XTX Topco Ltd bought a new stake in shares of Old National Bancorp (NASDAQ:ONB) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 46,133 shares of the bank’s stock, valued at approximately $1,001,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Old National Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank’s stock valued at $736,261,000 after buying an additional 290,005 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Old National Bancorp by 923.4% during the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock worth $189,374,000 after acquiring an additional 7,872,318 shares during the last quarter. Geode Capital Management LLC grew its stake in Old National Bancorp by 6.6% during the third quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after acquiring an additional 514,315 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Old National Bancorp by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank’s stock valued at $163,899,000 after acquiring an additional 326,135 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Old National Bancorp by 172.1% in the 4th quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank’s stock worth $119,236,000 after purchasing an additional 3,474,578 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ONB. Barclays cut their price objective on Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Raymond James reduced their price objective on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Stephens reiterated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.71.

Old National Bancorp Trading Up 2.4 %

Shares of NASDAQ ONB opened at $19.48 on Wednesday. Old National Bancorp has a 1-year low of $15.38 and a 1-year high of $24.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The business’s 50 day moving average is $21.54 and its two-hundred day moving average is $21.41. The stock has a market capitalization of $6.21 billion, a P/E ratio of 11.60 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the prior year, the company posted $0.46 EPS. As a group, research analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a $0.14 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.87%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

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.