nVerses Capital LLC Buys Shares of 21,400 Old National Bancorp (NASDAQ:ONB)

nVerses Capital LLC bought a new stake in shares of Old National Bancorp (NASDAQ:ONB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 21,400 shares of the bank’s stock, valued at approximately $399,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ONB. SageView Advisory Group LLC bought a new stake in shares of Old National Bancorp during the 4th quarter valued at $301,000. First Hawaiian Bank raised its position in shares of Old National Bancorp by 3.4% during the 1st quarter. First Hawaiian Bank now owns 39,862 shares of the bank’s stock valued at $694,000 after acquiring an additional 1,320 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Old National Bancorp during the 1st quarter valued at $28,000. Thrive Wealth Management LLC bought a new stake in shares of Old National Bancorp during the 1st quarter valued at $273,000. Finally, Independence Bank of Kentucky raised its position in shares of Old National Bancorp by 9.2% during the 1st quarter. Independence Bank of Kentucky now owns 11,962 shares of the bank’s stock valued at $208,000 after acquiring an additional 1,006 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at $5,730,935.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 completion of the transaction, the chief executive officer now directly owns 287,409 shares in the company, valued at $5,730,935.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kendra L. Vanzo sold 20,000 shares of the stock in a transaction dated 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 approximately $2,335,868.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ONB shares. Barclays upped their price objective on shares of Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price objective on shares of Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Old National Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Old National Bancorp Price Performance

ONB stock opened at $19.68 on Friday. The stock has a 50-day moving average price of $18.75 and a two-hundred day moving average price of $17.75. The stock has a market cap of $6.28 billion, a PE ratio of 10.64 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. 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 released its earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $750.93 million during the quarter, compared to analysts’ expectations of $474.10 million. Old National Bancorp had a return on equity of 10.67% and a net margin of 18.83%. During the same quarter in the prior year, the company earned $0.54 EPS. Equities analysts forecast that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

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

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.