The stock price of Old National Bancorp (NASDAQ: ONB) has surged by 0.78 when compared to previous closing price of 16.57, but the company has seen a 1.46% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-23 that While the top- and bottom-line numbers for Old National Bancorp (ONB) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Is It Worth Investing in Old National Bancorp (NASDAQ: ONB) Right Now?
The price-to-earnings ratio for Old National Bancorp (NASDAQ: ONB) is 9.03x, which is above its average ratio. Moreover, the 36-month beta value for ONB is 0.83. Analysts have varying opinions on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for ONB is 313.37M and currently, short sellers hold a 3.06% of that float. On April 30, 2024, ONB’s average trading volume was 2.27M shares.
ONB’s Market Performance
ONB stock saw a decrease of 1.46% in the past week, with a monthly decline of -4.08% and a quarterly a decrease of -4.02%. The volatility ratio for the week is 2.70%, and the volatility levels for the last 30 days are 2.69% for Old National Bancorp (ONB). The simple moving average for the past 20 days is 2.76% for ONB’s stock, with a 5.82% simple moving average for the past 200 days.
Analysts’ Opinion of ONB
Many brokerage firms have already submitted their reports for ONB stocks, with Barclays repeating the rating for ONB by listing it as a “Overweight.” The predicted price for ONB in the upcoming period, according to Barclays is $20 based on the research report published on March 08, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see ONB reach a price target of $17. The rating they have provided for ONB stocks is “Buy” according to the report published on December 01st, 2023.
UBS gave a rating of “Buy” to ONB, setting the target price at $15.50 in the report published on July 10th of the previous year.
ONB Trading at 1.46% 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 -5.33% of loss for the given period.
Volatility was left at 2.69%, however, over the last 30 days, the volatility rate increased by 2.70%, as shares surge +0.30% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.24% upper at present.
During the last 5 trading sessions, ONB rose by +1.46%, which changed the moving average for the period of 200-days by +12.23% in comparison to the 20-day moving average, which settled at $16.25. In addition, Old National Bancorp saw -1.12% 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 FALCONER BRENDON B, who sale 49,375 shares at the price of $16.28 back on Apr 25 ’24. After this action, FALCONER BRENDON B now owns 88,712 shares of Old National Bancorp, valued at $803,825 using the latest closing price.
SCUDDER MICHAEL L, the EXECUTIVE CHAIRMAN of Old National Bancorp, sale 50,000 shares at $16.81 during a trade that took place back on Aug 11 ’23, which means that SCUDDER MICHAEL L is holding 215,796 shares at $840,500 based on the most recent closing price.
Stock Fundamentals for ONB
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 1.0 for the gross margin
The net margin for Old National Bancorp stands at 0.28. The total capital return value is set at 0.02. Equity return is now at value 10.22, with 1.14 for asset returns.
Based on Old National Bancorp (ONB), the company’s capital structure generated 0.49 points at debt to capital in total, while cash flow to debt ratio is standing at 0.09. The debt to equity ratio resting at 0.95. The interest coverage ratio of the stock is 1.28.
Currently, EBITDA for the company is 775.46 million with net debt to EBITDA at 9.16. When we switch over and look at the enterprise to sales, we see a ratio of 5.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.05.
Conclusion
To wrap up, the performance of Old National Bancorp (ONB) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
