Old National Bancorp [ONB] stock Initiated by Citigroup analyst, price target now $17

Old National Bancorp [NASDAQ: ONB] loss -1.64% on the last trading session, reaching $16.20 price per share at the time. The company report on January 23, 2024 at 8:00 AM that Old National’s 4th Quarter and Record Full-Year Results Supported by Strong Deposit Franchise, Stable Credit Quality and Well-Managed Expenses.

Old National Bancorp (NASDAQ: ONB) reports 4Q23 net income applicable to common shares of $128.4 million, diluted EPS of $0.44; $134.6 million and $0.46 on an adjusted1 basis, respectively. Full-year net income applicable to common shares of $565.9 million, diluted EPS of $1.94; $599.2 million and $2.05 on an adjusted1 basis, respectively.

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If compared to the average trading volume of 2.03M shares, ONB reached a trading volume of 4005351 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 $19.57 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 1.75. 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.

Citigroup have made an estimate for Old National Bancorp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 01, 2023.

The Average True Range (ATR) for Old National Bancorp is set at 0.44, with the Price to Sales ratio for ONB stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 0.85. Price to Free Cash Flow for ONB in the course of the last twelve months was 9.06.

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 -5.21. With this latest performance, ONB shares dropped by -4.82% in over the last four-week period, additionally sinking by -3.34% over the last 6 months – not to mention a drop of -7.43% 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 42.85, with the RSI for the last a single of trading hit 36.69, and the three-weeks RSI is set at 46.94 for Old National Bancorp [ONB]. The present Moving Average for the last 50 days of trading for this stock 16.34, while it was recorded at 16.88 for the last single week of trading, and 14.88 for the last 200 days.

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

Old National Bancorp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.04.

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

With the latest financial reports released by the company, Old National Bancorp posted 0.54/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.80%. 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 Institutional ownership at Old National Bancorp [ONB]

The top three institutional holders of ONB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ONB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ONB stock with ownership which is approximately 5.8325%.