Victory Capital Management Inc. Sells 957,390 Shares of Old National Bancorp $ONB

Victory Capital Management Inc. cut its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,032,839 shares of the bank’s stock after selling 957,390 shares during the period. Victory Capital Management Inc. owned about 1.54% of Old National Bancorp worth $132,421,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MAI Capital Management grew its holdings in shares of Old National Bancorp by 156.8% during the third quarter. MAI Capital Management now owns 1,153 shares of the bank’s stock worth $25,000 after purchasing an additional 704 shares during the last quarter. Covestor Ltd lifted its position in Old National Bancorp by 157.0% during the 3rd quarter. Covestor Ltd now owns 1,236 shares of the bank’s stock worth $27,000 after buying an additional 755 shares in the last quarter. Rothschild Investment LLC grew its holdings in Old National Bancorp by 72.3% during the 3rd quarter. Rothschild Investment LLC now owns 1,275 shares of the bank’s stock worth $28,000 after acquiring an additional 535 shares during the last quarter. Hantz Financial Services Inc. increased its position in Old National Bancorp by 310.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,532 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,159 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in Old National Bancorp in the 3rd quarter valued at about $39,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

ONB has been the topic of a number of research reports. Stephens upped their target price on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. TD Cowen raised Old National Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research report on Monday, December 29th. UBS Group restated a “neutral” rating and set a $26.00 target price on shares of Old National Bancorp in a research report on Wednesday, February 4th. Finally, Citigroup raised their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.45.

Old National Bancorp Trading Up 0.3%

NASDAQ ONB opened at $23.54 on Thursday. The stock has a 50-day simple moving average of $23.91 and a 200 day simple moving average of $22.52. The company has a market capitalization of $9.17 billion, a PE ratio of 13.15 and a beta of 0.84. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.86. Old National Bancorp has a 12 month low of $16.83 and a 12 month high of $26.17.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Wednesday, January 21st. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $698.53 million for the quarter, compared to analysts’ expectations of $705.62 million. Old National Bancorp had a return on equity of 10.75% and a net margin of 17.91%.During the same quarter last year, the business earned $0.49 earnings per share. Research analysts forecast that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, May 16th. Shareholders of record on Tuesday, May 5th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, May 5th. Old National Bancorp’s dividend payout ratio is presently 31.28%.

Insiders Place Their Bets

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the sale, the insider directly owned 20,438 shares in the company, valued at approximately $511,971.90. This trade represents a 59.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Old National Bancorp Profile

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.