Old National Bancorp (NASDAQ:ONB) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Old National Bancorp (NASDAQ:ONB - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,551,228 shares of the bank's stock after purchasing an additional 326,135 shares during the period. Victory Capital Management Inc. owned about 2.37% of Old National Bancorp worth $163,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Old National Bancorp by 1,766.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,400 shares of the bank's stock valued at $26,000 after acquiring an additional 1,325 shares during the period. Empowered Funds LLC purchased a new position in Old National Bancorp during the fourth quarter valued at $28,000. Versant Capital Management Inc lifted its holdings in Old National Bancorp by 58.4% during the fourth quarter. Versant Capital Management Inc now owns 1,668 shares of the bank's stock valued at $36,000 after purchasing an additional 615 shares in the last quarter. UMB Bank n.a. grew its position in shares of Old National Bancorp by 58.9% in the fourth quarter. UMB Bank n.a. now owns 1,788 shares of the bank's stock valued at $39,000 after purchasing an additional 663 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Old National Bancorp during the fourth quarter worth about $65,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONB has been the topic of several research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Royal Bank of Canada restated a "sector perform" rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Barclays boosted their price target on Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Stephens reissued an "overweight" rating and issued a $27.00 price objective on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $29.00 target price (up previously from $28.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.29.

Remove Ads

Old National Bancorp Trading Down 0.2 %

NASDAQ ONB traded down $0.05 on Friday, reaching $21.59. 2,568,442 shares of the company were exchanged, compared to its average volume of 3,068,694. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.84. The business's fifty day moving average price is $22.93 and its 200 day moving average price is $21.19. The stock has a market capitalization of $6.89 billion, a P/E ratio of 12.85 and a beta of 0.85. Old National Bancorp has a fifty-two week low of $15.38 and a fifty-two week high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Old National Bancorp had a net margin of 18.24% and a return on equity of 10.13%. During the same period last year, the company earned $0.46 earnings per share. Analysts forecast that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.59%. Old National Bancorp's dividend payout ratio is currently 33.33%.

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.