Market cap of Old National Bancorp [ONB] reaches 2.80B – now what?

Old National Bancorp [NASDAQ: ONB] loss -1.65% or -0.28 points to close at $16.66 with a heavy trading volume of 1582062 shares. The company report on July 9, 2021 that Old National to announce second-quarter 2021 earnings and hold conference call / webcast.

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Old National Bancorp (NASDAQ: ONB) will release details of its financial results for the second-quarter 2021 on Tuesday, July 20, 2021. A conference call will be held at 8:00 a.m. (Central), 9:00 a.m. (Eastern) that same day to review these results, strategic developments and the Company’s financial outlook.

The audio webcast link, earnings release and corresponding presentation slides will be available on the Investor Relations page of Old National’s website prior to the beginning of the conference call. The webcast will be archived for 12 months. To listen to the live conference call, dial U.S. (877) 660-9071 or (International) (929) 517-9523, Conference I.D. 7447647. A replay of the call will be available from 11:00 a.m. (Central) on July 20 through August 3. To access the audio replay, dial (855) 859-2056, Conference I.D. 7447647.

It opened the trading session at $16.68, the shares rose to $16.83 and dropped to $16.46, the range by which the price of stock traded the whole day. The daily chart for ONB points out that the company has recorded -7.03% loss over the past six months. However, it is still -38.6% lower than its most recent low trading price.

If we look at the average trading volume of 957.01K shares, ONB reached to a volume of 1582062 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Old National Bancorp [ONB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ONB shares is $21.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ONB stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Old National Bancorp shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on November 12, 2020. The new note on the price target was released on April 09, 2020, representing the official price target for Old National Bancorp stock.

The Average True Range (ATR) for Old National Bancorp is set at 0.46, with the Price to Sales ratio for ONB stock in the period of the last 12 months amounting to 4.28. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 5.34. Price to Free Cash Flow for ONB in the course of the last twelve months was 14.32.

Trading performance analysis for ONB stock

Old National Bancorp [ONB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.39. With this latest performance, ONB shares dropped by -12.73% in over the last four-week period, additionally sinking by -7.03% over the last 6 months – not to mention a rise of 30.41% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONB stock in for the last two-week period is set at 29.82, with the RSI for the last a single of trading hit 24.03, and the three-weeks RSI is set at 33.84 for Old National Bancorp [ONB]. The present Moving Average for the last 50 days of trading for this stock 18.66, while it was recorded at 17.18 for the last single week of trading, and 17.38 for the last 200 days.

Old National Bancorp [ONB]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Old National Bancorp [ONB] shares currently have an operating margin of +32.98. Old National Bancorp’s Net Margin is presently recorded at +25.07.

Return on Total Capital for ONB is now 5.21, given the latest momentum, and Return on Invested Capital for the company is 4.47. Return on Equity for this stock inclined to 7.77, with Return on Assets sitting at 1.04. When it comes to the capital structure of this company, Old National Bancorp [ONB] has a Total Debt to Total Equity ratio set at 92.95. Additionally, ONB Total Debt to Total Capital is recorded at 48.17, with Total Debt to Total Assets ending up at 11.98. Long-Term Debt to Equity for the company is recorded at 74.70, with the Long-Term Debt to Total Capital now at 38.71.

Reflecting on the efficiency of the workforce at the company, Old National Bancorp [ONB] managed to generate an average of $92,601 per employee.

Old National Bancorp [ONB]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ONB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Old National Bancorp go to 8.00%.

An analysis of insider ownership at Old National Bancorp [ONB]

There are presently around $1,976 million, or 72.20% of ONB stock, in the hands of institutional investors. The top three institutional holders of ONB stocks are: BLACKROCK INC. with ownership of 24,422,049, which is approximately 0.608% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 17,963,855 shares of the stock with an approximate value of $299.28 million in ONB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $192.07 million in ONB stock with ownership of nearly -2.523% of the company’s market capitalization.

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Positions in Old National Bancorp stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 105 institutional holders increased their position in Old National Bancorp [NASDAQ:ONB] by around 8,586,739 shares. Additionally, 101 investors decreased positions by around 4,251,847 shares, while 58 investors held positions by with 105,790,887 shares. The mentioned changes placed institutional holdings at 118,629,473 shares, according to the latest SEC report filing. ONB stock had 30 new institutional investments in for a total of 2,022,060 shares, while 22 institutional investors sold positions of 641,528 shares during the same period.

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