Squarepoint Ops LLC lifted its position in shares of Old National Bancorp (NASDAQ:ONB – Free Report) by 22.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 998,157 shares of the bank’s stock after buying an additional 181,976 shares during the quarter. Squarepoint Ops LLC’s holdings in Old National Bancorp were worth $25,852,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in Old National Bancorp during the 4th quarter valued at $27,000. Los Angeles Capital Management LLC purchased a new position in shares of Old National Bancorp in the fourth quarter worth $36,000. Peterson Wealth Services raised its stake in shares of Old National Bancorp by 9,711.8% in the fourth quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after purchasing an additional 1,651 shares during the last quarter. Archer Investment Corp bought a new position in shares of Old National Bancorp during the second quarter valued at $39,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Old National Bancorp during the second quarter valued at $49,000. 83.66% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.41, for a total value of $310,872.11. Following the completion of the transaction, the chief executive officer owned 63,531 shares in the company, valued at approximately $1,677,853.71. The trade was a 15.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas J. Chulos sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider owned 53,544 shares in the company, valued at $1,427,483.04. This trade represents a 27.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Check Out Our Latest Analysis on Old National Bancorp
Old National Bancorp Price Performance
Shares of NASDAQ:ONB opened at $25.61 on Wednesday. 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 has a 1-year low of $19.39 and a 1-year high of $27.36. The company has a market capitalization of $9.80 billion, a P/E ratio of 11.38 and a beta of 0.83. The firm’s 50 day simple moving average is $26.32 and its two-hundred day simple moving average is $24.53.
Old National Bancorp (NASDAQ:ONB – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%.The firm had revenue of $726.86 million during the quarter, compared to analyst estimates of $716.25 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts expect that Old National Bancorp will post 2.6 EPS for the current fiscal year.
Old National Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Saturday, September 5th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.58 dividend on an annualized basis and a yield of 2.3%. Old National Bancorp’s dividend payout ratio is presently 25.78%.
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.
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