Old National Bancorp [ONB] Stock trading around $15.70 per share: What’s Next?

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Old National Bancorp [NASDAQ: ONB] stock went on a downward path that fall over -1.81% on Thursday, amounting to a one-week price increase of more than 2.35%. The company report on May 3, 2022 that Old National Appoints Six Market Presidents Across Illinois.

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Old National Bank (NASDAQ: ONB) today announced it has appointed six Market Presidents across its Illinois footprint:.

Over the last 12 months, ONB stock dropped by -19.86%. The one-year Old National Bancorp stock forecast points to a potential upside of 21.5. The average equity rating for ONB stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.65 billion, with 165.28 million shares outstanding and 164.09 million shares in the current float. Compared to the average trading volume of 4.15M shares, ONB stock reached a trading volume of 5120298 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $20.00 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 2.60. 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.

Keefe Bruyette have made an estimate for Old National Bancorp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 20, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $18 to $20. The new note on the price target was released on August 17, 2021, representing the official price target for Old National Bancorp stock. Previously, the target price had yet another raise from $16 to $17, while Stephens kept a Equal-Weight rating on ONB stock.

The Average True Range (ATR) for Old National Bancorp is set at 0.42, with the Price to Sales ratio for ONB stock in the period of the last 12 months amounting to 6.51. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 4.23. Price to Free Cash Flow for ONB in the course of the last twelve months was 18.75.

ONB Stock Performance Analysis:

Old National Bancorp [ONB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.35. With this latest performance, ONB shares dropped by -1.26% in over the last four-week period, additionally sinking by -12.87% over the last 6 months – not to mention a drop of -19.86% 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 47.41, with the RSI for the last a single of trading hit 52.34, and the three-weeks RSI is set at 44.77 for Old National Bancorp [ONB]. The present Moving Average for the last 50 days of trading for this stock 16.50, while it was recorded at 15.54 for the last single week of trading, and 17.30 for the last 200 days.

Insight into Old National Bancorp Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Old National Bancorp [ONB] shares currently have an operating margin of +40.37. Old National Bancorp’s Net Margin is presently recorded at +32.52.

Return on Equity for this stock inclined to 9.27, with Return on Assets sitting at 1.17.

ONB Stock EPS

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%.

Old National Bancorp [ONB] Insider Position Details

There are presently around $3,782 million, or 46.40% of ONB stock, in the hands of institutional investors. The top three institutional holders of ONB stocks are: BLACKROCK INC. with ownership of 43,244,254, which is approximately -0.174% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 33,121,358 shares of the stock with an approximate value of $529.61 million in ONB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $298.49 million in ONB stock with ownership of nearly -2.133% of the company’s market capitalization.

Positions in Old National Bancorp stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 149 institutional holders increased their position in Old National Bancorp [NASDAQ:ONB] by around 15,029,637 shares. Additionally, 163 investors decreased positions by around 11,575,183 shares, while 61 investors held positions by with 209,897,454 shares. The mentioned changes placed institutional holdings at 236,502,274 shares, according to the latest SEC report filing. ONB stock had 60 new institutional investments in for a total of 3,760,166 shares, while 26 institutional investors sold positions of 1,414,876 shares during the same period.