Jane Street Group LLC Sells 323,184 Shares of Old National Bancorp (NASDAQ:ONB)

Jane Street Group LLC cut its stake in Old National Bancorp (NASDAQ:ONB) by 80.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,436 shares of the bank’s stock after selling 323,184 shares during the period. Jane Street Group LLC’s holdings in Old National Bancorp were worth $1,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Old National Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank’s stock worth $79,810,000 after purchasing an additional 47,149 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Old National Bancorp during the 4th quarter worth approximately $209,000. Raymond James Financial Inc. purchased a new position in Old National Bancorp during the 4th quarter worth approximately $19,708,000. KBC Group NV raised its position in Old National Bancorp by 33.5% during the 4th quarter. KBC Group NV now owns 13,067 shares of the bank’s stock worth $284,000 after buying an additional 3,278 shares during the last quarter. Finally, Choreo LLC purchased a new position in Old National Bancorp during the 4th quarter worth approximately $511,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONB has been the subject of a number of recent research reports. Raymond James reduced their price target on shares of Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 2nd. Stephens reissued an “overweight” rating and set a $27.00 price target on shares of Old National Bancorp in a research report on Monday, April 14th. Royal Bank of Canada cut their target price on shares of Old National Bancorp from $26.00 to $23.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. StockNews.com raised shares of Old National Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 23rd. Finally, Truist Financial assumed coverage on shares of Old National Bancorp in a report on Tuesday, May 13th. They set a “buy” rating and a $26.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $25.67.

Old National Bancorp Stock Performance

NASDAQ:ONB opened at $22.13 on Monday. The firm’s fifty day moving average price is $20.54 and its 200 day moving average price is $21.79. Old National Bancorp has a 1-year low of $15.60 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 firm has a market cap of $7.08 billion, a price-to-earnings ratio of 13.17 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. The company had revenue of $486.87 million during the quarter, compared to the consensus estimate of $478.37 million. On average, sell-side analysts expect that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, June 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 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.