Market Analysts see Old National Bancorp [ONB] gaining to $19. Time to buy?

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Old National Bancorp [NASDAQ: ONB] price surged by 0.80 percent to reach at $0.12. The company report on May 18, 2022 that Old National Bancorp Announces Quarterly Dividends.


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Old National Bancorp (“Old National”) (NASDAQ: ONB) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its outstanding shares of common stock. This quarterly cash dividend will be payable on June 15, 2022 to shareholders of record as of the close of business on June 1, 2022.

In addition, the Board of Directors declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40th interest per share) on Old National’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO). The dividends are payable on August 20, 2022, to shareholders of record as of the close of business on August 5, 2022.

A sum of 2591601 shares traded at recent session while its average daily volume was at 2.41M shares. Old National Bancorp shares reached a high of $15.28 and dropped to a low of $15.08 until finishing in the latest session at $15.14.

The one-year ONB stock forecast points to a potential upside of 23.65. The average equity rating for ONB stock is currently 2.60, trading closer to a bullish pattern in the stock market.

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 $19.83 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.

Stephens have made an estimate for Old National Bancorp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 13, 2022. The new note on the price target was released on December 20, 2021, representing the official price target for Old National Bancorp stock. Previously, the target price had yet another raise from $18 to $20, while Piper Sandler kept a Overweight rating on ONB stock. On November 12, 2020, analysts increased their price target for ONB shares from 16 to 17.

The Average True Range (ATR) for Old National Bancorp is set at 0.37, with the Price to Sales ratio for ONB stock in the period of the last 12 months amounting to 6.09. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 9.43. Price to Free Cash Flow for ONB in the course of the last twelve months was 17.40.

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 1.95. With this latest performance, ONB shares dropped by -5.32% in over the last four-week period, additionally sinking by -19.55% over the last 6 months – not to mention a drop of -10.63% 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 50.52, with the RSI for the last a single of trading hit 54.62, and the three-weeks RSI is set at 48.38 for Old National Bancorp [ONB]. The present Moving Average for the last 50 days of trading for this stock 15.32, while it was recorded at 15.02 for the last single week of trading, and 17.08 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 $3,419 million, or 77.50% of ONB stock, in the hands of institutional investors. The top three institutional holders of ONB stocks are: BLACKROCK INC. with ownership of 33,378,748, which is approximately -22.813% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 29,663,094 shares of the stock with an approximate value of $449.1 million in ONB stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $273.58 million in ONB stock with ownership of nearly -3.199% of the company’s market capitalization.

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 174 institutional holders increased their position in Old National Bancorp [NASDAQ:ONB] by around 24,219,484 shares. Additionally, 171 investors decreased positions by around 34,921,309 shares, while 49 investors held positions by with 166,700,833 shares. The mentioned changes placed institutional holdings at 225,841,626 shares, according to the latest SEC report filing. ONB stock had 68 new institutional investments in for a total of 5,380,222 shares, while 52 institutional investors sold positions of 7,019,863 shares during the same period.

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