The stock of Old National Bancorp (NASDAQ:ONB) decreased by -$0.61 on Tuesday to finish at $15.98, down -3.68 percent. The last five days have seen an average of 1,462,120 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$2.00. The average number of shares traded over the last 20 days was 2,555,415, while the average volume over the last 50 days totaled 2,268,650.
ONB stock appreciated 7.75% since last month. On 07/17/23, the company’s shares reached a one-month low of $14.53. The stock touched a high of $20.19 on 01/12/23, after rallying from a low of $11.66 in 52 weeks. The price of ONB stock has declined by -11.12% or -$2.00 this year, reaching a new high 6 times. Still, the stock price is down -20.85% from the 52-week high.
Insider Transactions
ONB stock investors should be aware that Old National Bancorp (ONB) stock had its last reported insider trading activity 5 days ago on Aug 11. On Aug 11, EXECUTIVE CHAIRMAN SCUDDER MICHAEL L sold 50,000 shares at $16.81 each. This transaction resulted in the insider making $840,500. On May 09, Moran John V added 2,500 shares at a price of US$19.85. After the transaction, the insider now owns 2,500 shares. CHIEF EXECUTIVE OFFICER Ryan James C III had earlier bought 8,200 shares on May 04 for $12.22 a share. The transaction was completed for $100,203.
Valuation Metrics
Old National Bancorp (ONB) has a trailing price-to-earnings (P/E) ratio of 7.46. Beta for the stock is 0.85. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.45, the price-to-book (PB) ratio of 0.92, and the price-to-cash flow ratio of 8.44.
Company paid $0.14 per share in dividends, remained unchanged from $0.14 last year. A $0.01 dividend increase was reported on Wednesday January 22 2020.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.13, and the total debt to equity ratio is 0.25. Old National Bancorp’s operating margin stood at 76.90% for the same period. Based on annual data, it had gross profit of $1.33 billion and revenue of $1.45 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ONB’s return on assets (ROA) during the last 12 months has been 1.30%. There was a 16.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 12.70%.
Earnings Surprise
According to Old National Bancorp’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Old National Bancorp’s quarterly earnings would be $0.54, but it ended up being $0.5, beating the consensus by 8.00%. At the end of Old National Bancorp’s most recent quarter ended June 29, its total debt was $6.58 billion. Equity owned by shareholders amounts to $292.59 million.
Technical Picture
Here’s a quick look at Old National Bancorp’s (ONB) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 36.58%, suggesting the stock is Neutral, with a 27.65% historical volatility rate.
The stochastic %K and %D were 29.16% and 48.76% respectively, while the average true range (ATR) was 0.47. Based on the 14-day stochastic reading of 3.18%, the RSI (14) reading is 47.55%. On the 9-day MACD Oscillator, the stock is at -0.42, and the 14-day reading is at -0.42.
Analyst Ratings
In its most recent analyst report, UBS raised its rating on Old National Bancorp (NASDAQ: ONB) to a Buy. Prior to this, analysts firm rated the stock as a Neutral.
