As of Thursday close, Old National Bancorp’s (NASDAQ:ONB) stock was up $0.5, moving up 2.98 percent to $17.26. The average number of shares traded per day over the past five days has been 2,479,300 shares. 2 times new highs have been achieved over the past 5 days, with a $0.27 gain in that time frame. In the last twenty days, the average volume was 2,608,620, while in the previous 50 days, it was 2,363,968.
Since last month, ONB stock rose 23.99%. Shares of the company fell to $13.49 on 07/06/23, the lowest level in the past month. A 52-week high of $20.19 was reached on 01/12/23 after having rallying from a 52-week low of $11.66. Since the beginning of this year, ONB’s stock price has dropped by -4.00% or -$0.72, and marked a new high 6 times. However, the stock has declined by -14.51% since its 52-week high.
ONB stock investors should be aware that Old National Bancorp (ONB) stock had its last reported insider trading activity 87 days ago on May 09. Moran John V, the EVP, CHIEF STRATEGY OFFICER of the company, purchased of 2,500 shares for $19.85 on May 09. It resulted in a $49,625 investment by the insider. Ryan James C III added 8,200 shares at an average price of $12.22 on May 04. The insider now owns 625,066 shares following the transaction. On May 01, Director Hayley Kathryn bought 7,500 shares at $13.34 apiece. The transaction was valued at $100,050.
Valuation Metrics
Right now, Old National Bancorp (ONB) has a P/E ratio of about 8.06. The stock’s beta is 0.85. Besides these, the trailing price-to-sales (P/S) ratio of 2.65, the price-to-book (PB) ratio of 1.00, and the price-to-cash flow ratio of 8.42 may also be considered.
The latest dividend of $0.14 per share was paid out, remained unchanged from last year’s $0.14. On Wednesday January 22 2020, a $0.01 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.13, and the total debt-to-equity ratio was 0.35. In the year ended June 29, operating margins totaled 62.10%. Based on annual data, ONB earned $1.33 billion in gross profit and brought in $1.45 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 16.00%. Return on equity (ROE) for the past 12 months was 8.50%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Old National Bancorp to report $0.5 quarterly earnings, the actual figure was $0.54 per share, beating the consensus estimate by 8.00%. The value of shareholders’ equity is $292.59 million.
Technical Picture
This quick technical analysis looks at Old National Bancorp’s (ONB) price momentum. With a historical volatility rate of 38.49%, the RSI 9-day stood at 76.78% on 03 August.
With respect to its five-day moving average, the current Old National Bancorp price is up by +1.59% percent or $0.27. At present, ONB shares trade +25.89% above its 20-day simple moving average and +8.15% percent above its 100-day simple moving average. However, the stock is currently trading approximately +33.49% above its SMA50 and -5.11% below its SMA200.
Stochastic coefficient K was 81.00% and Stochastic coefficient D was 80.35%, while ATR was 0.51. Given the Stochastic reading of 91.92% for the 14-day period, the RSI (14) reading has been calculated as 74.66%. As of today, the MACD Oscillator reading stands at 0.15, while the 14-day reading stands at 0.62.
Analyst Ratings
UBS upgraded its rating on Old National Bancorp (NASDAQ: ONB) to a Buy in a note to investors on July 10, 2023. The analysts firm previously had a Neutral rating on the stock.Old National Bancorp (ONB) has been rated Overweight by analysts. According to 0 brokerage firms, ONB is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Old National Bancorp stock as buy, with 5 recommending it as overweight.
With a median target price of $18.00, the current consensus forecast for the stock is $17.00 – $19.50. Based on these forecasts, analysts predict Old National Bancorp (ONB) will achieve an average price target of $18.43.
