AQR Capital Management LLC Has $7.27 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

AQR Capital Management LLC boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 24.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 429,751 shares of the bank’s stock after buying an additional 85,225 shares during the quarter. AQR Capital Management LLC’s holdings in Old National Bancorp were worth $7,267,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ONB. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Old National Bancorp in the 2nd quarter valued at approximately $103,000. Point72 Asset Management L.P. lifted its stake in Old National Bancorp by 6,650.2% in the second quarter. Point72 Asset Management L.P. now owns 1,275,792 shares of the bank’s stock valued at $21,931,000 after acquiring an additional 1,256,892 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of Old National Bancorp in the 2nd quarter valued at about $180,000. Ensign Peak Advisors Inc increased its stake in shares of Old National Bancorp by 31.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 106,053 shares of the bank’s stock worth $1,823,000 after purchasing an additional 25,240 shares during the last quarter. Finally, Huber Capital Management LLC bought a new stake in shares of Old National Bancorp in the 2nd quarter valued at about $960,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Old National Bancorp

In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.94, for a total transaction of $498,500.00. Following the transaction, the chief executive officer now owns 287,409 shares in the company, valued at approximately $5,730,935.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Old National Bancorp news, CEO James A. Sandgren sold 25,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $19.94, for a total transaction of $498,500.00. Following the sale, the chief executive officer now directly owns 287,409 shares in the company, valued at $5,730,935.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kendra L. Vanzo sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $19.85, for a total transaction of $397,000.00. Following the completion of the transaction, the insider now owns 117,676 shares of the company’s stock, valued at $2,335,868.60. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

Old National Bancorp Stock Performance

Shares of NASDAQ ONB opened at $17.99 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 9.69 and a beta of 0.83. The stock’s fifty day moving average price is $18.84 and its two-hundred day moving average price is $17.63. Old National Bancorp has a one year low of $12.36 and a one year high of $20.43.

Old National Bancorp (NASDAQ:ONB) last released 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 the consensus estimate of $474.10 million. During the same period in the prior year, the company posted $0.54 earnings per share. On average, equities analysts forecast that Old National Bancorp will post 1.85 EPS for the current year.

Old National Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.11%. Old National Bancorp’s payout ratio is 30.27%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ONB. Barclays lifted their price target on Old National Bancorp from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. StockNews.com lowered Old National Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Royal Bank of Canada raised their price target on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.