nVerses Capital LLC Buys New Holdings in Old National Bancorp (NASDAQ:ONB)

nVerses Capital LLC acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,400 shares of the bank’s stock, valued at approximately $399,000.

Several other hedge funds have also recently bought and sold shares of ONB. SageView Advisory Group LLC acquired a new stake in Old National Bancorp during the fourth quarter worth approximately $301,000. First Hawaiian Bank lifted its position in Old National Bancorp by 3.4% during the first quarter. First Hawaiian Bank now owns 39,862 shares of the bank’s stock worth $694,000 after acquiring an additional 1,320 shares during the last quarter. Rise Advisors LLC acquired a new stake in Old National Bancorp during the first quarter worth approximately $28,000. Thrive Wealth Management LLC acquired a new stake in Old National Bancorp during the first quarter worth approximately $273,000. Finally, Independence Bank of Kentucky lifted its position in Old National Bancorp by 9.2% during the first quarter. Independence Bank of Kentucky now owns 11,962 shares of the bank’s stock worth $208,000 after acquiring an additional 1,006 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ONB has been the subject of several research reports. StockNews.com downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Barclays raised their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $19.68 on Friday. The company’s 50 day simple moving average is $18.75 and its 200 day simple moving average is $17.75. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 10.64 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93. Old National Bancorp has a 1 year low of $12.36 and a 1 year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $750.93 million for the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a net margin of 18.83% and a return on equity of 10.67%. During the same period last year, the firm posted $0.54 earnings per share. As a group, research analysts predict that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.14 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.85%. Old National Bancorp’s dividend payout ratio (DPR) is 30.27%.

Insider Activity at Old National Bancorp

In related news, CEO James A. Sandgren sold 25,000 shares of Old National Bancorp 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 transaction, the chief executive officer now directly owns 287,409 shares of the company’s stock, valued at $5,730,935.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO James A. Sandgren sold 25,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction 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 approximately $5,730,935.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the company’s stock in a transaction on 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 $2,335,868.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

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.