ExodusPoint Capital Management LP Buys New Shares in Old National Bancorp (NASDAQ:ONB)

ExodusPoint Capital Management LP purchased a new position in shares of Old National Bancorp (NASDAQ:ONB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,949,612 shares of the bank’s stock, valued at approximately $42,316,000. ExodusPoint Capital Management LP owned about 0.61% of Old National Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ONB. Vanguard Group Inc. increased its holdings in shares of Old National Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank’s stock worth $736,261,000 after buying an additional 290,005 shares during the last quarter. State Street Corp increased its stake in Old National Bancorp by 0.3% during the third quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after acquiring an additional 42,723 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Old National Bancorp by 923.4% in the 4th quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank’s stock worth $189,374,000 after purchasing an additional 7,872,318 shares during the period. Geode Capital Management LLC lifted its stake in shares of Old National Bancorp by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock valued at $155,502,000 after purchasing an additional 514,315 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Old National Bancorp by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank’s stock worth $163,899,000 after purchasing an additional 326,135 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp Price Performance

ONB opened at $21.35 on Thursday. Old National Bancorp has a twelve month low of $15.38 and a twelve month high of $24.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 12.71 and a beta of 0.85. The company has a fifty day simple moving average of $22.63 and a 200 day simple moving average of $21.44.

Old National Bancorp (NASDAQ:ONB) last announced 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 firm earned $0.46 earnings per share. Equities research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, March 5th. Old National Bancorp’s payout ratio is 33.33%.

Analyst Ratings Changes

ONB has been the topic of several research reports. Raymond James cut their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Stephens reaffirmed an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays raised their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

About Old National Bancorp

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.