Old National Bancorp (NASDAQ: ONB) is -4.14% lower on its value in year-to-date trading and has touched a low of $11.66 and a high of $17.64 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ONB stock was last observed hovering at around $16.59 in the last trading session, with the day’s loss setting it -0.4%.
Currently trading at $16.19, the stock is -1.69% and -1.87% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.65 million and changing -2.41% at the moment leaves the stock 5.43% off its SMA200. ONB registered 6.79% gain for a year compared to 6-month gain of 7.01%.
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The stock witnessed a 3.78% loss in the last 1 month and extending the period to 3 months gives it a 1.95%, and is -3.40% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.99% over the week and 2.45% over the month.
Old National Bancorp (ONB) has around 3940 employees, a market worth around $4.74B and $2.54B in sales. Current P/E ratio is 8.35 and Fwd P/E is 7.99. Profit margin for the company is 22.28%. Distance from 52-week low is 38.85% and -8.22% from its 52-week high. The company has generated returns on investments over the last 12 months (5.45%).
Old National Bancorp quarterly earnings per share for the current quarter are estimated at $0.43 with sales reaching $440M over the same period.The EPS is expected to shrink by -10.73% this year, but quarterly earnings will post 1.70% year-over-year. Quarterly sales are estimated to shrink -2.70% in year-over-year returns.
414 institutions hold shares in Old National Bancorp (ONB), with institutional investors hold 85.37% of the company’s shares. The shares outstanding are 292.65M, and float is at 289.61M with Short Float at 3.65%. Institutions hold 84.57% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 35.33 million shares valued at $492.53 million. The investor’s holdings represent 12.08% of the ONB Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 31.72 million shares valued at $442.24 million to account for 10.84% of the shares outstanding. The other top investors are Fuller & Thaler Asset Management Inc. which holds 21.94 million shares representing 7.50% and valued at over $305.89 million, while State Street Corporation holds 5.09% of the shares totaling 14.91 million with a market value of $207.78 million.
Old National Bancorp (ONB) Insider Activity
The most recent transaction is an insider sale by SCUDDER MICHAEL L, the company’s EXECUTIVE CHAIRMAN. SEC filings show that SCUDDER MICHAEL L sold 50,000 shares of the company’s common stock on Aug 11 ’23 at a price of $16.81 per share for a total of $0.84 million. Following the sale, the insider now owns 0.22 million shares.
Old National Bancorp disclosed in a document filed with the SEC on May 09 ’23 that Moran John V (EVP, CHIEF STRATEGY OFFICER) bought a total of 2,500 shares of the company’s common stock. The trade occurred on May 09 ’23 and was made at $19.85 per share for $49625.0. Following the transaction, the insider now directly holds 2500.0 shares of the ONB stock.
Still, SEC filings show that on May 04 ’23, Ryan James C III (CHIEF EXECUTIVE OFFICER) acquired 8,200 shares at an average price of $12.22 for $0.1 million. The insider now directly holds 625,066 shares of Old National Bancorp (ONB).
