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

Victory Capital Management Inc. decreased its position in Old National Bancorp (NASDAQ:ONB - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,323,074 shares of the bank's stock after selling 228,154 shares during the quarter. Victory Capital Management Inc. owned 2.29% of Old National Bancorp worth $155,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in Old National Bancorp by 44.0% in the first quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock worth $127,000 after purchasing an additional 1,837 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Old National Bancorp by 20.8% in the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank's stock worth $1,548,000 after purchasing an additional 12,596 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Old National Bancorp by 17.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,009 shares of the bank's stock worth $488,000 after purchasing an additional 3,366 shares during the period. KBC Group NV boosted its holdings in shares of Old National Bancorp by 15.5% in the 1st quarter. KBC Group NV now owns 15,098 shares of the bank's stock worth $320,000 after purchasing an additional 2,031 shares during the period. Finally, QRG Capital Management Inc. grew its position in Old National Bancorp by 10.1% in the 1st quarter. QRG Capital Management Inc. now owns 35,332 shares of the bank's stock valued at $749,000 after acquiring an additional 3,239 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Jefferies Financial Group initiated coverage on Old National Bancorp in a research report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price objective on the stock. Royal Bank Of Canada cut their price objective on Old National Bancorp from $26.00 to $23.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. Truist Financial upped their target price on Old National Bancorp from $26.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, National Bankshares set a $24.00 price target on Old National Bancorp in a research report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.30.

Old National Bancorp Stock Performance

Old National Bancorp stock traded up $0.15 during mid-day trading on Thursday, reaching $22.92. 3,277,645 shares of the company were exchanged, compared to its average volume of 2,798,377. Old National Bancorp has a twelve month low of $16.83 and a twelve month high of $24.49. The firm's 50-day simple moving average is $21.55 and its two-hundred day simple moving average is $21.63. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $7.33 billion, a PE ratio of 13.33 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $486.87 million during the quarter, compared to analysts' expectations of $478.37 million. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. Equities analysts predict that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Thursday, June 5th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's dividend payout ratio (DPR) is presently 32.56%.

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.