Barclays slashes price target on Old National Bancorp [ONB] – find out why.

Old National Bancorp [NASDAQ: ONB] closed the trading session at $16.65. The company report on April 1, 2024 at 6:55 AM that Old National Announces Completion of Merger with CapStar.

“This partnership is an incredible cultural fit and a natural extension of our growth strategy that allows us to introduce our client- and community-centered approach to banking to several strong, vibrant Southeastern communities,” said Old National Chairman and CEO Jim Ryan. “We are excited to have reached this important milestone and to officially welcome CapStar clients and team members to the Old National family.”.

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The stocks have a year to date performance of -1.42 percent and weekly performance of -1.01 percent. The stock has been moved at 14.91 percent over the last six months. The stock has performed 1.34 percent around the most recent 30 days and changed -2.69 percent over the most recent 3-months.

If compared to the average trading volume of 1.98M shares, ONB reached to a volume of 5760483 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 $19.64 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 1.88. 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.

Barclays have made an estimate for Old National Bancorp shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 08, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on December 01, 2023, representing the official price target for Old National Bancorp stock. Previously, the target price had yet another raise from $14.50 to $15.50, while UBS kept a Buy rating on ONB stock.

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 1.92. The Price to Book ratio for the last quarter was 0.91. Price to Free Cash Flow for ONB in the course of the last twelve months was 10.18.

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 -1.01. With this latest performance, ONB shares gained by 1.34% in over the last four-week period, additionally plugging by 14.91% over the last 6 months – not to mention a rise of 14.91% 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 49.39, with the RSI for the last a single of trading hit 46.80, and the three-weeks RSI is set at 50.46 for Old National Bancorp [ONB]. The present Moving Average for the last 50 days of trading for this stock 16.54, while it was recorded at 17.04 for the last single week of trading, and 15.56 for the last 200 days.

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

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

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

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%.

Old National Bancorp [ONB]: Institutional Ownership

The top three institutional holders of ONB stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ONB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ONB stock with ownership which is approximately 5.8386%.