Citadel Advisors LLC boosted its stake in Old National Bancorp (NASDAQ:ONB) by 291.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,845 shares of the bank’s stock after purchasing an additional 126,496 shares during the quarter. Citadel Advisors LLC’s holdings in Old National Bancorp were worth $2,964,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its holdings in Old National Bancorp by 5,903.3% in the fourth quarter. Meeder Asset Management Inc. now owns 7,324 shares of the bank’s stock valued at $128,000 after purchasing an additional 7,202 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Old National Bancorp in the third quarter valued at approximately $129,000. Advisor Group Inc. grew its holdings in Old National Bancorp by 219.1% in the third quarter. Advisor Group Inc. now owns 9,921 shares of the bank’s stock valued at $181,000 after purchasing an additional 6,812 shares during the period. Stifel Financial Corp purchased a new stake in Old National Bancorp in the third quarter valued at approximately $196,000. Finally, Field & Main Bank purchased a new stake in Old National Bancorp in the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 63.64% of the company’s stock.
Shares of Old National Bancorp (NASDAQ ONB) opened at $17.55 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.85 and a current ratio of 0.85. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $18.95. The stock has a market cap of $2,710.00, a P/E ratio of 24.38 and a beta of 0.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.52 annualized dividend and a yield of 2.96%. Old National Bancorp’s dividend payout ratio is currently 72.22%.
ONB has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Old National Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $20.00 target price on shares of Old National Bancorp in a report on Friday, December 22nd. BidaskClub downgraded shares of Old National Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Boenning Scattergood set a $21.00 price objective on shares of Old National Bancorp and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research upgraded shares of Old National Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, December 27th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Old National Bancorp presently has an average rating of “Hold” and an average price target of $19.38.
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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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