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

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

Several other institutional investors have also bought and sold shares of ONB. Fisher Asset Management LLC raised its position in Old National Bancorp by 28.7% in the 4th quarter. Fisher Asset Management LLC now owns 4,100,349 shares of the bank’s stock valued at $88,998,000 after purchasing an additional 914,217 shares during the last quarter. Kovack Advisors Inc. bought a new position in Old National Bancorp in the 4th quarter valued at $289,000. Bank of New York Mellon Corp raised its position in Old National Bancorp by 11.6% in the 4th quarter. Bank of New York Mellon Corp now owns 3,394,365 shares of the bank’s stock valued at $73,675,000 after purchasing an additional 352,116 shares during the last quarter. Sigma Planning Corp bought a new position in Old National Bancorp in the 4th quarter valued at $315,000. Finally, Handelsbanken Fonder AB raised its position in Old National Bancorp by 11.0% in the 4th quarter. Handelsbanken Fonder AB now owns 85,059 shares of the bank’s stock valued at $1,846,000 after purchasing an additional 8,400 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Down 6.9 %

Shares of Old National Bancorp stock opened at $20.11 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.84. Old National Bancorp has a 12 month low of $15.38 and a 12 month high of $24.49. The business has a fifty day simple moving average of $22.90 and a 200 day simple moving average of $21.22. The stock has a market cap of $6.41 billion, a PE ratio of 11.97 and a beta of 0.85.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Old National Bancorp had a return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Research analysts predict that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.78%. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ONB. StockNews.com downgraded Old National Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Barclays lifted their price objective on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their target price 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. Finally, Stephens restated an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.29.

Old National Bancorp Company 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.