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Old National Bancorp (ONB) Is Down -1.42% in 2024 With Lots of Room to Run

Old National Bancorp (NASDAQ: ONB) is -1.42% 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 $17.41 in the last trading session, with the day’s loss setting it -0.76%.

Currently trading at $16.65, the stock is -0.30% and 0.72% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.76 million and changing -4.37% at the moment leaves the stock 7.07% off its SMA200. ONB registered 14.91% gain for a year compared to 6-month gain of 14.91%.

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The stock witnessed a 1.34% loss in the last 1 month and extending the period to 3 months gives it a -2.69%, and is -1.01% 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 2.61% over the week and 2.65% over the month.

Old National Bancorp (ONB) has around 3940 employees, a market worth around $4.87B and $2.54B in sales. Current P/E ratio is 8.59 and Fwd P/E is 8.22. Profit margin for the company is 22.28%. Distance from 52-week low is 42.80% and -5.61% 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 -10.77% 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.

Old National Bancorp (ONB) Top Institutional Holders

416 institutions hold shares in Old National Bancorp (ONB), with institutional investors hold 85.39% of the company’s shares. The shares outstanding are 292.65M, and float is at 289.63M with Short Float at 3.78%. Institutions hold 84.61% 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’sEXECUTIVE 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).

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