Charles Schwab Investment Management Inc. Has $79.81 Million Stock Holdings in Old National Bancorp (NASDAQ:ONB)

Charles Schwab Investment Management Inc. grew its stake in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,677,013 shares of the bank's stock after acquiring an additional 47,149 shares during the period. Charles Schwab Investment Management Inc. owned about 1.15% of Old National Bancorp worth $79,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versor Investments LP bought a new stake in shares of Old National Bancorp in the 3rd quarter valued at approximately $364,000. Aigen Investment Management LP bought a new stake in Old National Bancorp during the third quarter valued at $340,000. Victory Capital Management Inc. raised its holdings in shares of Old National Bancorp by 147.3% during 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 period. MQS Management LLC lifted its position in shares of Old National Bancorp by 31.7% in the 3rd quarter. MQS Management LLC now owns 25,195 shares of the bank's stock worth $470,000 after buying an additional 6,061 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of Old National Bancorp by 10.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 14,561 shares of the bank's stock valued at $272,000 after buying an additional 1,395 shares during the period. Institutional investors own 83.66% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Raymond James reissued a "strong-buy" rating and issued a $29.00 target price (up previously from $28.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on Old National Bancorp from $23.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. StockNews.com cut shares of Old National Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a research note on Wednesday, January 22nd. Finally, Barclays upped their price target on shares of Old National Bancorp from $26.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Old National Bancorp has an average rating of "Moderate Buy" and an average target price of $26.29.

Old National Bancorp Trading Up 3.8 %

Shares of Old National Bancorp stock traded up $0.76 during trading on Friday, hitting $20.96. The stock had a trading volume of 2,908,592 shares, compared to its average volume of 3,084,675. Old National Bancorp has a 1 year low of $15.38 and a 1 year high of $24.49. The stock has a 50 day simple moving average of $22.85 and a 200 day simple moving average of $21.22. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $6.69 billion, a PE ratio of 12.48 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last announced its earnings results on Tuesday, January 21st. The bank reported $0.49 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company posted $0.46 EPS. On average, research analysts expect that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.56 annualized dividend and a yield of 2.67%. Old National Bancorp's dividend payout ratio (DPR) is presently 33.33%.

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.