Peregrine Capital Management LLC Has $5.42 Million Stock Holdings in Old National Bancorp $ONB

Peregrine Capital Management LLC decreased its position in Old National Bancorp (NASDAQ:ONB) by 16.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 254,162 shares of the bank’s stock after selling 50,266 shares during the period. Peregrine Capital Management LLC’s holdings in Old National Bancorp were worth $5,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ONB. Summit Securities Group LLC acquired a new position in shares of Old National Bancorp in the 1st quarter valued at $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Old National Bancorp in the 1st quarter valued at $51,000. Signaturefd LLC grew its holdings in shares of Old National Bancorp by 22.7% in the 2nd quarter. Signaturefd LLC now owns 3,297 shares of the bank’s stock valued at $70,000 after buying an additional 609 shares during the period. GAMMA Investing LLC lifted its position in 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 acquiring an additional 1,837 shares in the last quarter. Finally, NorthRock Partners LLC bought a new stake in Old National Bancorp in the 2nd quarter valued at $205,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Old National Bancorp Stock Performance

Shares of NASDAQ:ONB opened at $20.38 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.99 billion, a PE ratio of 11.92 and a beta of 0.85. The company’s 50 day moving average price is $21.90 and its two-hundred day moving average price is $21.48. Old National Bancorp has a 12-month low of $16.83 and a 12-month high of $24.49.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Tuesday, February 1st. The bank reported $0.46 earnings per share (EPS) for the quarter. The business had revenue of $222.80 million for the quarter. Old National Bancorp had a net margin of 17.39% and a return on equity of 14.95%. Equities research analysts predict that Old National Bancorp will post 2.08 earnings per share for the current year.

Old National Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were given a dividend of $0.14 per share. The ex-dividend date was Friday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 2.7%. Old National Bancorp’s dividend payout ratio (DPR) is currently 32.75%.

Analyst Ratings Changes

Several research firms recently commented on ONB. Barclays set a $29.00 price objective on shares of Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $26.00 target price (down from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Old National Bancorp in a research note on Wednesday, October 8th. TD Cowen upped their price target on shares of Old National Bancorp from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday. Finally, Cowen restated a “hold” rating on shares of Old National Bancorp in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Old National Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.27.

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.