Old National Bancorp (NASDAQ:ONB) Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Old National Bancorp (NASDAQ:ONB) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 267,834 shares of the bank’s stock after purchasing an additional 35,121 shares during the period. Wells Fargo & Company MN owned 0.08% of Old National Bancorp worth $5,813,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in Old National Bancorp by 13.5% in the third quarter. JPMorgan Chase & Co. now owns 3,498,108 shares of the bank’s stock worth $65,275,000 after acquiring an additional 416,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Old National Bancorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank’s stock worth $79,810,000 after purchasing an additional 47,149 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Old National Bancorp in the 4th quarter worth approximately $209,000. Stifel Financial Corp boosted its position in Old National Bancorp by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 53,594 shares of the bank’s stock valued at $1,000,000 after purchasing an additional 648 shares during the period. Finally, Neville Rodie & Shaw Inc. bought a new position in Old National Bancorp during the 4th quarter worth $652,000. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp Trading Up 0.7 %

Old National Bancorp stock opened at $19.59 on Friday. Old National Bancorp has a 12-month low of $15.60 and a 12-month high of $24.49. The stock has a market capitalization of $6.25 billion, a PE ratio of 11.66 and a beta of 0.82. The firm has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $21.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.93 and a quick ratio of 0.92.

Old National Bancorp (NASDAQ:ONB) last issued its quarterly 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 return on equity of 10.13% and a net margin of 18.24%. During the same quarter in the previous year, the firm posted $0.46 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, March 5th. Old National Bancorp’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ONB. Raymond James cut their target price on Old National Bancorp from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 2nd. Stephens reissued an “overweight” rating and set a $27.00 target price on shares of Old National Bancorp in a research note on Monday, April 14th. Barclays dropped their price target on shares of Old National Bancorp from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price objective (up from $24.00) on shares of Old National Bancorp in a research report on Wednesday, January 22nd. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.71.

Old National Bancorp 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.