Old National Bancorp (NASDAQ:ONB) saw a downside of -2.65% to $16.90 after subtracting -$0.46 on Tuesday. The 5-day average trading volume is 1,666,559 shares of the company’s common stock. It has gained $17.45 in the past week and touched a new high 3 times within the past 5 days. An average of 2,534,735 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,323,478.
ONB’s 1-month performance is 17.77% or $2.83 on its low of $13.99 reached on 07/10/23. The company’s shares have touched a 52-week low of $11.66 and high of $20.19, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, ONB has lost -6.01% or -$1.09 and has reached a new high 6 times. However, the current price is down -16.30% from the 52-week high price.
Insider Transactions
ONB stock investors last saw insider trading activity on May 09.SCUDDER MICHAEL L (EXECUTIVE CHAIRMAN) most recently sold 25,000 shares at $18.00 per share on Feb 23. This transaction cost the insider $450,000. EXECUTIVE CHAIRMAN, SCUDDER MICHAEL L, sold 8,244 shares at a price of $17.70 on Feb 22. Then, on Feb 21, EXECUTIVE CHAIRMAN SCUDDER MICHAEL L sold 9,308 shares at a price of $17.75 per share. This transaction amounted to $165,217.
Valuation Metrics
ONB stock has a beta of 0.85. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.60 while the price-to-book (PB) in the most recent quarter is 0.97, with the price to cash flow ratio at 13.04.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.13, while the total debt to equity was 0.25. The firm’s gross profit as reported stood at $1.33 billion against revenue of $1.45 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected ONB to announce $0.5 per share in earnings in its latest quarter, but it posted $0.54, representing a 8.00% surprise. Shareholders hold equity totaling $292.59 million.
Let’s look briefly at Old National Bancorp (ONB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 61.13% to suggest the stock is trending Neutral, with historical volatility in this time period at 42.62%.
The stock’s 5-day moving average is $17.09, reflecting a +0.78% or $0.13 change from its current price. ONB is currently trading +15.84% above its 20-day SMA, +15.76% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +32.57% and SMA200 by-7.45%.
Stochastic %K and %D was 84.46% and 87.11% and the average true range (ATR) pointed at 0.51. The RSI (14) points at 64.81%, while the 14-day stochastic is at 70.95% with the period’s ATR at 0.49. The stock’s 9-day MACD Oscillator is pointing at 0.12 and 0.45 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Old National Bancorp (NASDAQ: ONB), UBS upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for ONB stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ONB as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.
What is ONB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $17.00 and a high of $19.50, with their median price target at $18.00. Looking at these predictions, the average price target given by analysts is for Old National Bancorp (ONB) stock is $18.43.
