Old National Bancorp [ONB] Stock trading around $14.59 per share: What’s Next?

Old National Bancorp [NASDAQ: ONB] plunged by -$0.57 during the normal trading session on Wednesday and reaching a high of $15.13 during the day while it closed the day at $14.59. The company report on March 13, 2023 that Old National Bank Commits $500,000 to Nonprofits Chosen by the Community.

“This campaign is a great example of our ‘better together’ philosophy,” said Jim Ryan, Old National Bank CEO. “We are thrilled to support local nonprofits in their important work, while also empowering our community members to tell us who most needs our support.”.

Old National Bancorp stock has also loss -12.90% of its value over the past 7 days. However, ONB stock has declined by -19.39% in the 3 months of the year. Over the past six months meanwhile, it has lost -12.58% and lost -18.85% year-on date.

The market cap for ONB stock reached $4.29 billion, with 291.19 million shares outstanding and 289.12 million shares in the current float. Compared to the average trading volume of 1.82M shares, ONB reached a trading volume of 4470879 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $20.67 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 2.30. 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.

UBS have made an estimate for Old National Bancorp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 15, 2023. The new note on the price target was released on May 13, 2022, representing the official price target for Old National Bancorp stock. Previously, the target price had yet another raise to $22, while Keefe Bruyette analysts kept a Outperform rating on ONB stock. On August 17, 2021, analysts increased their price target for ONB shares from 18 to 20.

The Average True Range (ATR) for Old National Bancorp is set at 0.65, with the Price to Sales ratio for ONB stock in the period of the last 12 months amounting to 2.95. The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 4.93. Price to Free Cash Flow for ONB in the course of the last twelve months was 7.16.

ONB stock trade performance evaluation

Old National Bancorp [ONB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.90. With this latest performance, ONB shares dropped by -18.90% in over the last four-week period, additionally sinking by -12.58% over the last 6 months – not to mention a drop of -16.58% 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 17.05, with the RSI for the last a single of trading hit 10.01, and the three-weeks RSI is set at 23.13 for Old National Bancorp [ONB]. The present Moving Average for the last 50 days of trading for this stock 17.50, while it was recorded at 15.41 for the last single week of trading, and 17.26 for the last 200 days.

Old National Bancorp [ONB]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Old National Bancorp [ONB] shares currently have an operating margin of +25.76. Old National Bancorp’s Net Margin is presently recorded at +24.30.

Return on Equity for this stock inclined to 10.52, with Return on Assets sitting at 1.20.

Earnings per share (EPS) analysis for Old National Bancorp [ONB] stock

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 Ownership positions

There are presently around $3,398 million, or 78.50% of ONB stock, in the hands of institutional investors. The top three institutional holders of ONB stocks are: BLACKROCK INC. with ownership of 35,731,217, which is approximately 4.561% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 31,447,164 shares of the stock with an approximate value of $458.81 million in ONB stocks shares; and FULLER & THALER ASSET MANAGEMENT, INC., currently with $287.2 million in ONB stock with ownership of nearly 10.042% of the company’s market capitalization.

Positions in Old National Bancorp stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 162 institutional holders increased their position in Old National Bancorp [NASDAQ:ONB] by around 12,937,711 shares. Additionally, 144 investors decreased positions by around 11,461,481 shares, while 75 investors held positions by with 208,532,877 shares. The mentioned changes placed institutional holdings at 232,932,069 shares, according to the latest SEC report filing. ONB stock had 48 new institutional investments in for a total of 3,111,585 shares, while 27 institutional investors sold positions of 1,339,483 shares during the same period.