Old National Bancorp (NASDAQ:ONB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 156.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,906 shares of the bank’s stock after acquiring an additional 2,385 shares during the quarter. GAMMA Investing LLC’s holdings in Old National Bancorp were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Old National Bancorp in the first quarter valued at $28,000. HHM Wealth Advisors LLC bought a new position in shares of Old National Bancorp during the 2nd quarter valued at about $28,000. LRI Investments LLC acquired a new position in shares of Old National Bancorp in the 1st quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Old National Bancorp in the 2nd quarter worth approximately $103,000. Finally, First Financial Corp IN lifted its stake in Old National Bancorp by 176.8% during the second quarter. First Financial Corp IN now owns 6,086 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,887 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Old National Bancorp

In related news, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $19.85, for a total value of $397,000.00. Following the completion of the sale, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.85, for a total transaction of $397,000.00. Following the transaction, the insider now owns 117,676 shares of the company’s stock, valued at approximately $2,335,868.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total value of $498,500.00. Following the completion of the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at $5,730,935.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Old National Bancorp Stock Performance

Shares of ONB opened at $19.13 on Wednesday. The company has a market capitalization of $6.10 billion, a PE ratio of 10.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 0.94. The company’s 50 day moving average price is $18.68 and its 200 day moving average price is $17.73. Old National Bancorp has a 52 week low of $12.36 and a 52 week high of $20.43.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. The business had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. During the same period in the previous year, the company posted $0.54 EPS. Research analysts expect that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, September 5th. Old National Bancorp’s payout ratio is currently 30.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ONB shares. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Royal Bank of Canada raised their target price on shares of Old National Bancorp from $19.00 to $22.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price target on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Old National Bancorp 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.