Old National Bancorp (NASDAQ: ONB) has a higher price-to-earnings ratio of 10.84x compared to its average ratio, and the 36-month beta value for ONB is at 0.85. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 0 rating it as “overweight,” 4 as “hold,” and 0 as “sell.”
The average price suggested by analysts for ONB is $20.00, which is $6.18 above the current market price. The public float for ONB is 289.12M, and currently, shorts hold a 2.70% of that float. The average trading volume for ONB on March 17, 2023 was 1.86M shares.
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ONB) stock’s latest price update
Old National Bancorp (NASDAQ: ONB)’s stock price has decreased by -3.53 compared to its previous closing price of 15.02. Despite this, the company has seen a loss of -9.22% in its stock price over the last five trading days.
ONB’s Market Performance
ONB’s stock has fallen by -9.22% in the past week, with a monthly drop of -19.33% and a quarterly drop of -16.87%. The volatility ratio for the week is 9.09% while the volatility levels for the last 30 days are 3.82% for Old National Bancorp The simple moving average for the last 20 days is -14.04% for ONB stock, with a simple moving average of -16.01% for the last 200 days.
Analysts’ Opinion of ONB
Many brokerage firms have already submitted their reports for ONB stocks, with UBS repeating the rating for ONB by listing it as a “Neutral.” The predicted price for ONB in the upcoming period, according to UBS is $16 based on the research report published on March 15th of the current year 2023.
Stephens, on the other hand, stated in their research note that they expect to see ONB reach a price target of $19. The rating they have provided for ONB stocks is “Overweight” according to the report published on May 13th, 2022.
Keefe Bruyette gave a rating of “Outperform” to ONB, setting the target price at $22 in the report published on December 20th of the previous year.
ONB Trading at -16.95% 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 -28.24% of loss for the given period.
Volatility was left at 3.82%, however, over the last 30 days, the volatility rate increased by 9.09%, as shares sank -18.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.01% lower at present.
During the last 5 trading sessions, ONB fell by -9.52%, which changed the moving average for the period of 200-days by -9.18% in comparison to the 20-day moving average, which settled at $16.69. In addition, Old National Bancorp saw -19.42% 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 SCUDDER MICHAEL L, who sale 25,000 shares at the price of $18.00 back on Feb 23. After this action, SCUDDER MICHAEL L now owns 265,796 shares of Old National Bancorp, valued at $450,000 using the latest closing price.
SCUDDER MICHAEL L, the EXECUTIVE CHAIRMAN of Old National Bancorp, sale 8,244 shares at $17.70 during a trade that took place back on Feb 22, which means that SCUDDER MICHAEL L is holding 189,495 shares at $145,919 based on the most recent closing price.
Stock Fundamentals for ONB
Current profitability levels for the company are sitting at:
- +25.76 for the present operating margin
The net margin for Old National Bancorp stands at +24.30. Equity return is now at value 8.50, with 0.90 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.06.
Conclusion
In conclusion, Old National Bancorp (ONB) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
