Old National Bancorp (NASDAQ:ONB) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Old National Bancorp (NASDAQ:ONB) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,238 shares of the bank’s stock after buying an additional 6,091 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Old National Bancorp were worth $1,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its holdings in Old National Bancorp by 0.3% during the 3rd quarter. State Street Corp now owns 14,787,843 shares of the bank’s stock worth $275,941,000 after buying an additional 42,723 shares during the period. Geode Capital Management LLC raised its holdings in Old National Bancorp by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,331,969 shares of the bank’s stock worth $155,502,000 after buying an additional 514,315 shares during the period. Victory Capital Management Inc. raised its holdings in Old National Bancorp by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank’s stock worth $163,899,000 after buying an additional 326,135 shares during the period. Fisher Asset Management LLC increased its holdings in shares of 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Old National Bancorp by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,677,013 shares of the bank’s stock valued at $79,810,000 after purchasing an additional 47,149 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ONB. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Old National Bancorp in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $27.00 target price (up previously from $23.00) on shares of Old National Bancorp in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on Old National Bancorp from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Barclays upped their target price on Old National Bancorp from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Raymond James reiterated 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.29.

Old National Bancorp Trading Up 0.8 %

NASDAQ:ONB opened at $21.12 on Tuesday. The stock’s 50 day moving average price is $22.82 and its 200 day moving average price is $21.26. Old National Bancorp has a 52 week low of $15.38 and a 52 week high of $24.49. The company has a market capitalization of $6.74 billion, a P/E ratio of 12.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 0.93.

Old National Bancorp (NASDAQ:ONB) last released 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 period in the prior year, the company earned $0.46 EPS. On average, research analysts forecast that Old National Bancorp will post 2.08 EPS for the current fiscal year.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.56 dividend on an annualized basis and a yield of 2.65%. Old National Bancorp’s payout ratio is currently 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.