Zweig DiMenna Associates LLC Buys New Shares in Old National Bancorp $ONB

by · The Markets Daily

Zweig DiMenna Associates LLC purchased a new position in Old National Bancorp (NASDAQ:ONB – Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 100,000 shares of the bank’s stock, valued at approximately $2,195,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Old National Bancorp by 2.0% in the first quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock valued at $4,536,000 after buying an additional 4,153 shares during the period. Jones Financial Companies Lllp raised its holdings in Old National Bancorp by 87.8% in the 1st quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock valued at $269,000 after acquiring an additional 5,936 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Old National Bancorp by 8.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock worth $60,263,000 after acquiring an additional 215,203 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Old National Bancorp by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock worth $19,349,000 after purchasing an additional 64,110 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Old National Bancorp by 10.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,544 shares of the bank’s stock worth $780,000 after buying an additional 3,560 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Old National Bancorp

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of Old National Bancorp stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total transaction of $751,500.00. Following the completion of the sale, the insider owned 20,438 shares of the company’s stock, valued at approximately $511,971.90. The trade was a 59.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is currently owned by company insiders.

Old National Bancorp Stock Performance

ONB stock opened at $24.77 on Tuesday. The company has a 50 day moving average price of $23.62 and a 200 day moving average price of $22.26. Old National Bancorp has a fifty-two week low of $16.83 and a fifty-two week high of $26.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $9.68 billion, a PE ratio of 13.84 and a beta of 0.84.

Old National Bancorp (NASDAQ:ONB – Get Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $714.50 million for the quarter, compared to analysts’ expectations of $705.62 million. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.During the same quarter last year, the business earned $0.49 earnings per share. Analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ONB. Stephens lifted their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. TD Cowen raised Old National Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $27.00 to $30.00 in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price objective on Old National Bancorp from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. National Bank Financial set a $30.00 target price on shares of Old National Bancorp in a research note on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.36.

Get Our Latest Stock Report on Old National Bancorp

Old National Bancorp Company Profile

(Free Report)

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.

Further Reading

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