Peregrine Capital Management LLC Has $6.45 Million Stock Position in Old National Bancorp (NASDAQ:ONB)

Peregrine Capital Management LLC cut its holdings in shares of Old National Bancorp (NASDAQ:ONB - Free Report) by 5.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,428 shares of the bank's stock after selling 16,575 shares during the period. Peregrine Capital Management LLC owned 0.10% of Old National Bancorp worth $6,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Old National Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 33,921,274 shares of the bank's stock worth $736,261,000 after buying an additional 290,005 shares during the period. Dimensional Fund Advisors LP boosted its stake in Old National Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,106,289 shares of the bank's stock worth $371,294,000 after acquiring an additional 132,002 shares during the last quarter. Wellington Management Group LLP grew its holdings in Old National Bancorp by 923.4% during the fourth quarter. Wellington Management Group LLP now owns 8,724,893 shares of the bank's stock valued at $189,374,000 after purchasing an additional 7,872,318 shares during the period. Victory Capital Management Inc. grew its holdings in Old National Bancorp by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 7,551,228 shares of the bank's stock valued at $163,899,000 after purchasing an additional 326,135 shares during the period. Finally, William Blair Investment Management LLC increased its stake in Old National Bancorp by 172.1% in the fourth quarter. William Blair Investment Management LLC now owns 5,493,490 shares of the bank's stock valued at $119,236,000 after purchasing an additional 3,474,578 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Old National Bancorp from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Raymond James Financial reduced their target price on Old National Bancorp from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. National Bankshares set a $24.00 target price on Old National Bancorp in a research note on Tuesday, May 20th. Jefferies Financial Group assumed coverage on Old National Bancorp in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target for the company. Finally, Barclays cut their price objective on Old National Bancorp from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Old National Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $25.90.

Old National Bancorp Stock Up 3.8%

Shares of ONB stock traded up $0.82 on Tuesday, hitting $22.16. 2,780,800 shares of the stock were exchanged, compared to its average volume of 2,752,558. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $7.09 billion, a P/E ratio of 12.88 and a beta of 0.86. Old National Bancorp has a fifty-two week low of $16.50 and a fifty-two week high of $24.49. The business has a 50-day moving average of $21.10 and a 200 day moving average of $21.55.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last released its earnings results on Tuesday, April 22nd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Old National Bancorp had a return on equity of 9.98% and a net margin of 18.74%. The firm had revenue of $486.87 million for the quarter, compared to analysts' expectations of $478.37 million. Equities analysts anticipate that Old National Bancorp will post 2.08 EPS for the current year.

Old National Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, June 5th. Old National Bancorp's dividend payout ratio is presently 32.56%.

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.