Is Wall Street High Or Low On Old National Bancorp (ONB)?

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SNOW Stock

Old National Bancorp (NASDAQ:ONB) finished Wednesday with an addition of $0.01 to close at $17.83, an upside of 0.06 percent. An average of 1,282,260 shares of common stock have been traded in the last five days. There was a gain of $0.48 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,658,385 shares traded, while the 50-day average volume stands at 1,741,828.

ONB stock has decreased by -4.65% in the last month. The company shares reached their 1-month lowest point of $16.89 on 12/19/22. 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 -1.60% or -$0.29 in price. In spite of this, the price is down -14.32% 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 16.93. The stock’s beta is 0.86. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.48, the price-to-book (PB) ratio at 1.10, and the price-to-cash flow ratio at 9.22.

The company has a payout ratio of 52.90%. 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 0.31 for the quarter ending September 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 $0.5 per share, but it turned out to be $0.51, a 2.00% surprise. At the end of the quarter ending September 29, Old National Bancorp’s stock balance sheet showed total debt was $4.87 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 28 December was 50.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 17.93%.

As of today, ONB’s price is $17.76 +2.77% or $0.48 from its 5-day moving average. ONB is currently trading -4.96% lower than its 20-day SMA and +3.24% higher than its 100-day SMA. However, the stock’s current price level is -3.41% below the SMA50 and +1.94% above the SMA200.

The stochastic %K and %D were 63.45% and 58.69%, respectively, and the average true range (ATR) was 0.36. With the 14-day stochastic at 64.83% and the average true range at 0.39, the RSI (14) stands at 46.63%. The stock has reached 0.30 on the 9-day MACD Oscillator while the 14-day reading was at 0.18.

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 $21.00 and $24.00, with a median target of $22.50. Taking a look at these predictions, the average price target given by analysts for Old National Bancorp (ONB) stock is $22.33.


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