Victory Capital Management Inc. lessened its stake in shares of Old National Bancorp (NASDAQ:ONB – Get Rating) by 87.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,987 shares of the bank's stock after selling 455,619 shares during the quarter. Victory Capital Management Inc.'s holdings in Old National Bancorp were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Old National Bancorp by 20.2% during the 4th quarter. American Century Companies Inc. now owns 6,087,254 shares of the bank's stock worth $110,301,000 after purchasing an additional 1,023,322 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Old National Bancorp by 46,921.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,228,052 shares of the bank's stock worth $58,493,000 after purchasing an additional 3,221,187 shares in the last quarter. Geode Capital Management LLC increased its position in Old National Bancorp by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 2,882,757 shares of the bank's stock worth $52,235,000 after purchasing an additional 168,578 shares in the last quarter. JPMorgan Chase & Co. increased its position in Old National Bancorp by 104.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,830,636 shares of the bank's stock worth $51,290,000 after purchasing an additional 1,448,843 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Old National Bancorp by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,557 shares of the bank's stock worth $30,525,000 after purchasing an additional 32,382 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.
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Analyst Upgrades and Downgrades
ONB has been the topic of a number of research analyst reports. TheStreet lowered Old National Bancorp from a "b" rating to a "c+" rating in a research note on Friday, May 27th. StockNews.com raised Old National Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, July 13th. Piper Sandler raised their price target on Old National Bancorp to $21.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th. Finally, Stephens raised Old National Bancorp from an "equal weight" rating to an "overweight" rating and set a $19.00 price target on the stock in a research note on Friday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.
Old National Bancorp Stock Performance
NASDAQ ONB opened at $18.09 on Tuesday. The firm has a market capitalization of $5.30 billion, a P/E ratio of 17.74 and a beta of 0.86. Old National Bancorp has a 1-year low of $14.22 and a 1-year high of $20.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.83 and a quick ratio of 0.83. The business's 50-day simple moving average is $15.78 and its 200-day simple moving average is $16.35.
Old National Bancorp (NASDAQ:ONB – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The bank reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07. Old National Bancorp had a return on equity of 9.13% and a net margin of 18.42%. During the same period last year, the company posted $0.41 EPS. Equities analysts predict that Old National Bancorp will post 1.85 EPS for the current year.
Old National Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, May 31st. Old National Bancorp's dividend payout ratio is currently 54.90%.
Old National Bancorp Profile
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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, letters of credit, and lease financing.
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