Charles Schwab Investment Management Inc. Decreases Position in Old National Bancorp $ONB

Charles Schwab Investment Management Inc. decreased its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,647,843 shares of the bank's stock after selling 29,170 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.14% of Old National Bancorp worth $77,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Old National Bancorp by 44.0% in the 1st quarter. GAMMA Investing LLC now owns 6,009 shares of the bank's stock valued at $127,000 after purchasing an additional 1,837 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Old National Bancorp by 20.8% in the 1st quarter. Teacher Retirement System of Texas now owns 73,033 shares of the bank's stock valued at $1,548,000 after purchasing an additional 12,596 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Old National Bancorp by 17.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,009 shares of the bank's stock valued at $488,000 after purchasing an additional 3,366 shares during the last quarter. KBC Group NV increased its stake in shares of Old National Bancorp by 15.5% in the 1st quarter. KBC Group NV now owns 15,098 shares of the bank's stock valued at $320,000 after purchasing an additional 2,031 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Old National Bancorp by 10.1% in the 1st quarter. QRG Capital Management Inc. now owns 35,332 shares of the bank's stock valued at $749,000 after purchasing an additional 3,239 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ONB. Wall Street Zen raised Old National Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada boosted their price objective on Old National Bancorp from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. National Bankshares set a $24.00 price target on Old National Bancorp in a research note on Tuesday, May 20th. Jefferies Financial Group started coverage on Old National Bancorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Finally, Barclays boosted their price target on Old National Bancorp from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old National Bancorp presently has an average rating of "Moderate Buy" and an average price target of $26.40.

Old National Bancorp Stock Performance

NASDAQ:ONB traded up $0.08 during mid-day trading on Monday, hitting $21.40. 340,247 shares of the company traded hands, compared to its average volume of 3,202,414. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 12.66 and a beta of 0.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock's fifty day moving average price is $21.57 and its 200-day moving average price is $21.49. Old National Bancorp has a one year low of $16.83 and a one year high of $24.49.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. The firm had revenue of $633.41 million during the quarter, compared to analyst estimates of $622.83 million. Old National Bancorp had a return on equity of 9.92% and a net margin of 17.67%. During the same quarter in the prior year, the company posted $0.46 earnings per share. Research analysts anticipate that Old National Bancorp will post 2.08 earnings per share for the current fiscal year.

Old National Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.6%. Old National Bancorp's dividend payout ratio is currently 33.14%.

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.