Victory Capital Management Inc. Purchases 4,303,071 Shares of Old National Bancorp (NASDAQ:ONB)

Victory Capital Management Inc. lifted its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 147.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,225,093 shares of the bank's stock after purchasing an additional 4,303,071 shares during the quarter. Victory Capital Management Inc. owned 2.27% of Old National Bancorp worth $134,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Old National Bancorp by 0.7% during the third quarter. CWM LLC now owns 87,365 shares of the bank's stock valued at $1,630,000 after purchasing an additional 591 shares in the last quarter. Forum Financial Management LP increased its position in Old National Bancorp by 3.9% in the 2nd quarter. Forum Financial Management LP now owns 20,152 shares of the bank's stock valued at $346,000 after acquiring an additional 748 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Old National Bancorp by 1.0% during the first quarter. Ameritas Investment Partners Inc. now owns 95,145 shares of the bank's stock valued at $1,656,000 after acquiring an additional 919 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Old National Bancorp by 194.8% during the second quarter. GAMMA Investing LLC now owns 1,521 shares of the bank's stock worth $26,000 after purchasing an additional 1,005 shares during the period. Finally, Studio Investment Management LLC grew its stake in shares of Old National Bancorp by 5.7% in the second quarter. Studio Investment Management LLC now owns 20,279 shares of the bank's stock worth $349,000 after purchasing an additional 1,100 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Old National Bancorp Trading Down 0.8 %

ONB stock traded down $0.19 during mid-day trading on Wednesday, reaching $22.19. The company's stock had a trading volume of 1,758,013 shares, compared to its average volume of 2,057,474. Old National Bancorp has a 12 month low of $14.32 and a 12 month high of $22.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.83. The business's 50 day moving average price is $19.17 and its 200 day moving average price is $18.26. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 13.45 and a beta of 0.82.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $485.86 million during the quarter, compared to analyst estimates of $482.20 million. Old National Bancorp had a net margin of 17.93% and a return on equity of 10.10%. Old National Bancorp's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. On average, equities research analysts predict that Old National Bancorp will post 1.84 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.52%. Old National Bancorp's dividend payout ratio is presently 33.94%.

Analyst Ratings Changes

Several research analysts recently issued reports on ONB shares. StockNews.com lowered Old National Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, October 1st. Barclays raised their price objective on Old National Bancorp from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada upped their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a "sector perform" rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Old National Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.43.

About Old National Bancorp

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.