BlueCrest Capital Management Ltd Invests $489,000 in Old National Bancorp (ONB) Stock
BlueCrest Capital Management Ltd acquired a new stake in Old National Bancorp (NASDAQ:ONB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,357 shares of the bank’s stock, valued at approximately $489,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Stifel Financial Corp acquired a new stake in Old National Bancorp in the 1st quarter valued at about $178,000. US Bancorp DE grew its stake in Old National Bancorp by 58.9% in the 1st quarter. US Bancorp DE now owns 10,714 shares of the bank’s stock valued at $185,000 after acquiring an additional 3,970 shares during the last quarter. Paragon Capital Management Ltd acquired a new stake in Old National Bancorp in the 2nd quarter valued at about $186,000. Teacher Retirement System of Texas grew its stake in Old National Bancorp by 7.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,821 shares of the bank’s stock valued at $187,000 after acquiring an additional 717 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in Old National Bancorp in the 1st quarter valued at about $214,000. 72.62% of the stock is currently owned by hedge funds and other institutional investors.
In other Old National Bancorp news, insider John R. Kamin sold 5,531 shares of Old National Bancorp stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.56, for a total transaction of $91,593.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.79% of the company’s stock.
ONB has been the topic of a number of research reports. BidaskClub cut shares of Old National Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday, September 19th. Jefferies Group LLC restated a “hold” rating and issued a $18.00 target price on shares of Old National Bancorp in a report on Friday, August 11th. Piper Jaffray Companies restated a “hold” rating and issued a $18.00 target price on shares of Old National Bancorp in a report on Wednesday, July 26th. Finally, UBS AG upgraded shares of Old National Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 19th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.83.
Old National Bancorp (ONB) opened at 18.45 on Tuesday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 17.52 and a beta of 1.10. The stock’s 50 day moving average is $17.25 and its 200 day moving average is $16.87. Old National Bancorp has a one year low of $13.74 and a one year high of $18.95.
Old National Bancorp (NASDAQ:ONB) last released its earnings results on Tuesday, July 25th. The bank reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Old National Bancorp had a return on equity of 8.25% and a net margin of 21.02%. The company had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $153.57 million. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities analysts forecast that Old National Bancorp will post $1.06 EPS for the current year.
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Old National Bancorp Company Profile
Old National Bancorp is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory and other traditional banking services. The Company focuses on community banking.
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