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Daily High to Daily Low: Is It Safe to Buy Old National Bancorp (ONB)?

Old National Bancorp (NASDAQ:ONB) went down by -6.22% from its latest closing price compared to the recent 1-year high of $20.19. The company’s stock price has collected -7.34% of loss in the last five trading sessions.

Is It Worth Investing in Old National Bancorp (NASDAQ :ONB) Right Now?

Old National Bancorp (NASDAQ:ONB) scored a price-to-earnings ratio above its average ratio, recording 16.17 x from its present earnings ratio. Plus, the 36-month beta value for ONB is at 0.86. Opinions of the stock are interesting as 4 analysts out of 7 who provided ratings for Old National Bancorp declared the stock was a “buy,” while 0 rated the stock as “overweight,” 3 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $21.17, which is $5.3 above the current price. ONB currently public float of 289.12M and currently shorts hold a 2.23% ratio of that float. Today, the average trading volume of ONB was 1.64M shares.

ONB’s Market Performance

ONB stocks went down by -7.34% for the week, with a monthly drop of -4.11% and a quarterly performance of -5.39%, while its annual performance rate touched -8.59%. The volatility ratio for the week stands at 3.03% while the volatility levels for the past 30 days are set at 2.21% for Old National Bancorp. The simple moving average for the period of the last 20 days is -5.74% for ONB stocks with a simple moving average of 0.56% for the last 200 days.

Analysts’ Opinion of ONB

Many brokerage firms have already submitted their reports for ONB stocks, with Stephens repeating the rating for ONB by listing it as a “Overweight.” The predicted price for ONB in the upcoming period, according to Stephens is $19 based on the research report published on May 13th of the previous year 2022.

Keefe Bruyette, on the other hand, stated in their research note that they expect to see ONB reach a price target of $22. The rating they have provided for ONB stocks is “Outperform” according to the report published on December 20th, 2021.

Piper Sandler gave a rating of “Overweight” to ONB, setting the target price at $20 in the report published on August 17th of the previous year.

ONB Trading at -6.64% from the 50-Day Moving Average

After a stumble in the market that brought ONB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.65% of loss for the given period.

Volatility was left at 2.21%, however, over the last 30 days, the volatility rate increased by 3.03%, as shares sank -3.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.62% lower at present.

During the last 5 trading sessions, ONB fell by -7.34%, which changed the moving average for the period of 200-days by +9.10% in comparison to the 20-day moving average, which settled at $18.04. In addition, Old National Bancorp saw -5.28% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ONB starting from Brown Thomas Lynn, who purchase 15,000 shares at the price of $16.74 back on Sep 14. After this action, Brown Thomas Lynn now owns 18,400 shares of Old National Bancorp, valued at $251,100 using the latest closing price.

Sander Mark G, the President and COO of Old National Bancorp, purchase 7,000 shares at $15.31 during a trade that took place back on May 02, which means that Sander Mark G is holding 387,564 shares at $107,166 based on the most recent closing price.

Stock Fundamentals for ONB

Current profitability levels for the company are sitting at:

  • +40.37 for the present operating margin

The net margin for Old National Bancorp stands at +32.52. Equity return is now at value 6.20, with 0.70 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.06.

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