Jefferies Financial Group Inc. Acquires Shares of 31,137 Old National Bancorp $ONB

Jefferies Financial Group Inc. acquired a new position in shares of Old National Bancorp (NASDAQ:ONB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,137 shares of the bank’s stock, valued at approximately $806,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Old National Bancorp in the fourth quarter valued at about $27,000. Los Angeles Capital Management LLC bought a new position in Old National Bancorp during the fourth quarter worth about $36,000. Peterson Wealth Services raised its stake in Old National Bancorp by 9,711.8% in the 4th quarter. Peterson Wealth Services now owns 1,668 shares of the bank’s stock worth $37,000 after purchasing an additional 1,651 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Old National Bancorp in the 2nd quarter worth about $49,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Old National Bancorp in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ONB shares. UBS Group started coverage on shares of Old National Bancorp in a research report on Tuesday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. TD Cowen boosted their price target on Old National Bancorp from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Raymond James Financial initiated coverage on Old National Bancorp in a research report on Tuesday, July 7th. They set a “market perform” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a research note on Thursday, June 4th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.36.

Old National Bancorp Stock Performance

Shares of Old National Bancorp stock opened at $25.85 on Monday. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 11.49 and a beta of 0.84. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.95. Old National Bancorp has a 12-month low of $19.39 and a 12-month high of $27.36. The firm’s 50-day moving average price is $26.31 and its two-hundred day moving average price is $24.49.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The company had revenue of $726.86 million during the quarter, compared to analysts’ expectations of $716.25 million. During the same period in the previous year, the company earned $0.53 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts forecast that Old National Bancorp will post 2.6 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Saturday, September 5th will be given a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, September 4th. Old National Bancorp’s dividend payout ratio is currently 25.78%.

Insiders Place Their Bets

In other news, insider Nicholas J. Chulos sold 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total value of $533,200.00. Following the completion of the sale, the insider owned 53,544 shares of the company’s stock, valued at approximately $1,427,483.04. This represents a 27.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chady M. Alahmar sold 11,771 shares of Old National Bancorp stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.41, for a total transaction of $310,872.11. Following the transaction, the chief executive officer directly owned 63,531 shares of the company’s stock, valued at $1,677,853.71. This represents a 15.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.72% of the company’s stock.

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.