Is It Worthwhile For Investors To Follow These Insider Trades On Old National Bancorp (ONB)?

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Old National Bancorp (NASDAQ:ONB) finished Wednesday with a subtraction of -$0.18 to close at $17.36, a downside of -1.03 percent. An average of 2,332,360 shares of common stock have been traded in the last five days. There was a gain of $0.54 in the past week, and it reached a new high 30 times over the past 12 months. The last 20 days have seen an average of 1,555,355 shares traded, while the 50-day average volume stands at 1,543,620.

ONB stock has decreased by -1.64% in the last month. The company shares reached their 1-month lowest point of $16.16 on 09/07/22. With the stock rallying to its 52-week high on 01/18/22, shares of the company touched a low of $14.22 and a high of $20.81 in 52 weeks. It has reached a new high 9 times so far this year and lost -4.19% or -$0.76 in price. In spite of this, the price is down -16.58% from the 52-week high.


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Valuation Metrics

Old National Bancorp (ONB) has a trailing price-to-earnings (P/E) ratio of 17.02. The stock’s beta is 0.84. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.57, the price-to-book (PB) ratio at 1.04, and the price-to-cash flow ratio at 11.55.

The company has a payout ratio of 54.60%. The company’s most recent quarterly dividend payment was $0.14 a share, without any change from last year. Its latest increase dividend $0.01 reported on Wednesday January 22 2020.

Financial Health

Further, the company has a long term debt to equity ratio of 0.13 and a total debt to equity ratio of 0.23 for the quarter ending June 29. Its gross profit as reported stood at $596.4 million compared to revenue of $638.65 million.

Earnings Surprise

The analyst consensus anticipated Old National Bancorp’s latest quarter earnings to come in at $0.39 per share, but it turned out to be $0.46, a 17.90% surprise. At the end of the quarter ending June 29, Old National Bancorp’s stock balance sheet showed total debt was $4.83 billion. Shareholders own equity worth $292.89 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Old National Bancorp (ONB) price momentum. RSI 9-day as of the close on 21 September was 58.06%, suggesting the stock is Neutral, with historical volatility in this time frame at 24.61%.

As of today, ONB’s price is $17.23 +3.21% or $0.54 from its 5-day moving average. ONB is currently trading -0.52% lower than its 20-day SMA and +13.17% higher than its 100-day SMA. However, the stock’s current price level is +14.21% above the SMA50 and -1.53% below the SMA200.

The stochastic %K and %D were 88.72% and 83.13%, respectively, and the average true range (ATR) was 0.40. With the 14-day stochastic at 72.29% and the average true range at 0.38, the RSI (14) stands at 55.89%. The stock has reached 0.35 on the 9-day MACD Oscillator while the 14-day reading was at 0.53.

Analyst Ratings

Stephens upgraded Old National Bancorp (NASDAQ: ONB) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal-weight. The consensus rating for Old National Bancorp (ONB) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ONB, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.

What is ONB’s price target for the next 12 months?

Analysts predict a range of price targets between $18.50 and $24.00, with a median target of $21.25. Taking a look at these predictions, the average price target given by analysts for Old National Bancorp (ONB) stock is $21.33.

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