The stock of Old National Bancorp (NASDAQ:ONB) last traded at $12.96, down -1.59% from the previous session.
Data from the available sources indicates that Old National Bancorp (NASDAQ:ONB) is covered by 8 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $19.00 and a low of $14.50, we find $17.00. Given the previous closing price of $13.17, this indicates a potential upside of 29.08 percent. ONB stock price is now -4.39% away from the 50-day moving average and -22.62% away from the 200-day moving average. The market capitalization of the company currently stands at $3.90B.
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In total, 4 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $17.00 as their price target over the next twelve months.
In other news, Moran John V, EVP, CHIEF STRATEGY OFFICER bought 2,500 shares of the company’s stock on May 09. The stock was bought for $49,625 at an average price of $19.85. Upon completion of the transaction, the EVP, CHIEF STRATEGY OFFICER now directly owns 2,500 shares in the company, valued at $32400.0. An SEC document containing details of the transaction can be found on the SEC’s website. On May 04, CHIEF EXECUTIVE OFFICER Ryan James C III bought 8,200 shares of the business’s stock. A total of $100,203 was incurred on buying the stock at an average price of $12.22. This leaves the insider owning 625,066 shares of the company worth $8.1 million. Insiders disposed of 613,405 shares of company stock worth roughly $7.95 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ONB stock. A new stake in Old National Bancorp shares was purchased by CHANNING CAPITAL MANAGEMENT, LLC during the first quarter worth $8,134,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $4,004,000 in shares of ONB during the first quarter. In the first quarter, NFJ INVESTMENT GROUP, LLC acquired a new stake in Old National Bancorp valued at approximately $2,350,000. ATOM INVESTORS LP acquired a new stake in ONB for approximately $1,234,000. CRESTLINE MANAGEMENT, LP purchased a new stake in ONB valued at around $1,126,000 in the second quarter. In total, there are 445 active investors with 78.50% ownership of the company’s stock.
With an opening price of $13.04 on Wednesday morning, Old National Bancorp (NASDAQ: ONB) set off the trading day. During the past 12 months, Old National Bancorp has had a low of $11.66 and a high of $20.19. The fifty day moving average price for ONB is $13.51 and a two-hundred day moving average price translates $16.73 for the stock.
The latest earnings results from Old National Bancorp (NASDAQ: ONB) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.54, beating analysts’ expectations of $0.52 by 0.02. This compares to -$0.13 EPS in the same period last year. The net profit margin was 34.20% and return on equity was 12.00% for ONB. The company reported revenue of $495.65 million for the quarter, compared to $235.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 110.46 percent. For the current quarter, analysts expect ONB to generate $452.22M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 06/01/2023 were paid a $0.14 dividend. On an annualized basis, this represents a $0.56 dividend and a 4.32% percent yield. There was an ex-dividend date of 05/31/2023 for this dividend. In terms of dividend payout ratio, ONB is presently at 27.80%.
Old National Bancorp(ONB) Company Profile
Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing. The company also provides debit and automated teller machine cards, telephone access, online banking, and other electronic and mobile banking services; cash management, private banking, brokerage, trust, investment advisory, and other traditional banking services; wealth management, investment, and foreign currency services; and treasury management, merchant, and capital markets services, as well as community development lending and equity investment solutions. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.
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