KBC Group NV Acquires 1,375 Shares of Old National Bancorp (NASDAQ:ONB)

KBC Group NV grew its stake in Old National Bancorp (NASDAQ:ONB) by 16.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,789 shares of the bank’s stock after buying an additional 1,375 shares during the period. KBC Group NV’s holdings in Old National Bancorp were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Old National Bancorp by 12.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,840,509 shares of the bank’s stock valued at $289,481,000 after acquiring an additional 1,896,748 shares during the period. American Century Companies Inc. raised its holdings in shares of Old National Bancorp by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 14,124,185 shares of the bank’s stock worth $242,795,000 after acquiring an additional 441,887 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Old National Bancorp by 147.3% in the third quarter. Victory Capital Management Inc. now owns 7,225,093 shares of the bank’s stock worth $134,820,000 after purchasing an additional 4,303,071 shares during the last quarter. Bank of New York Mellon Corp raised its position in Old National Bancorp by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,544,124 shares of the bank’s stock valued at $60,923,000 after buying an additional 203,088 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Old National Bancorp by 0.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,305,752 shares of the bank’s stock valued at $57,553,000 after purchasing an additional 25,519 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ONB shares. Royal Bank of Canada upped their target price on Old National Bancorp from $19.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Barclays lifted their price target on Old National Bancorp from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, StockNews.com cut shares of Old National Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.43.

Old National Bancorp Trading Down 0.2 %

NASDAQ ONB opened at $20.93 on Thursday. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 12.68 and a beta of 0.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.83. Old National Bancorp has a twelve month low of $14.32 and a twelve month high of $22.75. The stock’s 50-day simple moving average is $19.43 and its two-hundred day simple moving average is $18.42.

Old National Bancorp (NASDAQ:ONB) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Old National Bancorp had a return on equity of 10.10% and a net margin of 17.93%. The company had revenue of $485.86 million during the quarter, compared to analysts’ expectations of $482.20 million. During the same period in the prior year, the business posted $0.51 EPS. Old National Bancorp’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts forecast that Old National Bancorp will post 1.84 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, December 5th. Old National Bancorp’s payout ratio is currently 33.94%.

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.