As of Thursday close, Old National Bancorp’s (NASDAQ:ONB) stock was down -$0.19, moving down -1.28 percent to $14.60. The average number of shares traded per day over the past five days has been 2,093,200 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.67 fall in that time frame. In the last twenty days, the average volume was 1,501,355, while in the previous 50 days, it was 1,978,270.
Since last month, ONB stock retreated -3.88%. Shares of the company fell to $14.52 on 09/21/23, 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 -18.80% or -$3.38, and marked a new high 6 times. However, the stock has declined by -27.69% since its 52-week high.
ONB stock investors should be aware that Old National Bancorp (ONB) stock had its last reported insider trading activity 42 days ago on Aug 11. SCUDDER MICHAEL L, the EXECUTIVE CHAIRMAN of the company, disposed of 50,000 shares for $16.81 on Aug 11. It resulted in a $840,500 divestment by the insider. Moran John V added 2,500 shares at an average price of $19.85 on May 09. The insider now owns 2,500 shares following the transaction. On May 04, CHIEF EXECUTIVE OFFICER Ryan James C III bought 8,200 shares at $12.22 apiece. The transaction was valued at $100,203.
Valuation Metrics
Right now, Old National Bancorp (ONB) has a P/E ratio of about 6.82. The stock’s beta is 0.86. Besides these, the trailing price-to-sales (P/S) ratio of 2.26, the price-to-book (PB) ratio of 0.84, and the price-to-cash flow ratio of 7.81 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 0.25. In the year ended June 29, operating margins totaled 76.90%. 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 12.70%.
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 15.99%, the RSI 9-day stood at 29.69% on 21 September.
With respect to its five-day moving average, the current Old National Bancorp price is down by -4.39% percent or -$0.67. At present, ONB shares trade -4.95% below its 20-day simple moving average and +8.87% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.22% below its SMA50 and -23.24% below its SMA200.
Stochastic coefficient K was 8.43% and Stochastic coefficient D was 13.82%, while ATR was 0.33. Given the Stochastic reading of 5.84% for the 14-day period, the RSI (14) reading has been calculated as 35.22%. As of today, the MACD Oscillator reading stands at -0.23, while the 14-day reading stands at -0.32.
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.
