Victory Capital Management Inc. Has $163.90 Million Stake in Old National Bancorp (NASDAQ:ONB)

Victory Capital Management Inc. raised its stake in shares of Old National Bancorp (NASDAQ:ONB) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 approximately 2.37% of Old National Bancorp worth $163,899,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in Old National Bancorp by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,186,132 shares of the bank’s stock valued at $59,453,000 after purchasing an additional 90,747 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Old National Bancorp by 12.1% in the third quarter. Citigroup Inc. now owns 485,023 shares of the bank’s stock worth $9,051,000 after purchasing an additional 52,430 shares during the period. LMR Partners LLP purchased a new position in Old National Bancorp in the third quarter worth $452,000. JPMorgan Chase & Co. boosted its position in Old National Bancorp by 13.5% during the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock valued at $65,275,000 after buying an additional 416,647 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Old National Bancorp during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Raymond James reissued a “strong-buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Old National Bancorp in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price target (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Stock Performance

Shares of ONB opened at $22.15 on Thursday. The company has a 50-day moving average of $22.94 and a two-hundred day moving average of $21.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 13.18 and a beta of 0.85. Old National Bancorp has a one year low of $15.38 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the business earned $0.46 EPS. On average, equities research analysts expect that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.53%. Old National Bancorp’s dividend payout ratio is currently 33.33%.

Old National Bancorp Company 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.