Old National Bancorp (NASDAQ:ONB) finished Wednesday with a subtraction of -$0.19 to close at $14.33, a downside of -1.31 percent. An average of 1,502,660 shares of common stock have been traded in the last five days. There was a fall of -$0.46 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 1,573,705 shares traded, while the 50-day average volume stands at 1,970,480.
ONB stock has decreased by -7.01% in the last month. The company shares reached their 1-month lowest point of $14.25 on 09/27/23. With the stock rallying to its 52-week high on 01/12/23, shares of the company touched a low of $11.66 and a high of $20.19 in 52 weeks. It has reached a new high 6 times so far this year and lost -20.30% or -$3.65 in price. In spite of this, the price is down -29.02% 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 48 days ago on Aug 11. In this transaction, the insider spent $840,500. EXECUTIVE CHAIRMAN, SCUDDER MICHAEL L, disposed of 25,000 shares at a price of $18.00 on Feb 23. The insider now owns more than $450,000 worth of shares. Prior to that, EXECUTIVE CHAIRMAN SCUDDER MICHAEL L went on to Sale 8,244 shares at $17.70 each on Feb 22. An amount of $145,919 was transacted.
Valuation Metrics
Old National Bancorp (ONB) has a trailing price-to-earnings (P/E) ratio of 6.69. The stock’s beta is 0.86. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.90, the price-to-book (PB) ratio at 0.83, and the price-to-cash flow ratio at 7.75.
The company has a payout ratio of 37.41%. 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 1.04 and a total debt to equity ratio of 1.18 for the quarter ending June 29. Its gross profit as reported stood at $1.33 billion compared to revenue of $1.45 billion.
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 $0.54, a 8.00% surprise. At the end of the quarter ending June 29, Old National Bancorp’s stock balance sheet showed total debt was $6.58 billion. Shareholders own equity worth $292.59 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 27 September was 29.26%, suggesting the stock is oversold, with historical volatility in this time frame at 16.04%.
As of today, ONB’s price is $14.55 -3.11% or -$0.46 from its 5-day moving average. ONB is currently trading -7.25% lower than its 20-day SMA and +17.85% higher than its 100-day SMA. However, the stock’s current price level is -6.83% below the SMA50 and -20.70% below the SMA200.
The stochastic %K and %D were 14.73% and 14.61%, respectively, and the average true range (ATR) was 0.34. With the 14-day stochastic at 6.50% and the average true range at 0.35, the RSI (14) stands at 33.72%. The stock has reached -0.18 on the 9-day MACD Oscillator while the 14-day reading was at -0.33.
Analyst Ratings
UBS upgraded Old National Bancorp (NASDAQ: ONB) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. 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 5 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 $17.00 and $19.50, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for Old National Bancorp (ONB) stock is $18.43.
