Old National Bancorp (NASDAQ:ONB) shares, rose in value on Wednesday, January 22, with the stock price down by -0.93% to the previous day’s close as strong demand from buyers drove the stock to $23.44.
Actively observing the price movement in the last trading, the stock closed the session at $23.66, falling within a range of $23.07 and $23.61. The value of beta (5-year monthly) was 0.807 whereas the PE ratio was 13.96 over 12-month period. Referring to stock’s 52-week performance, its high was $24.17, and the low was $15.36. On the whole, ONB has fluctuated by 10.67% over the past month.
With the market capitalization of Old National Bancorp currently standing at about $7.48 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February. The company’s Forward Dividend Ratio is 0.56, with its dividend yield at 2.39%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 2.39B, with a low estimate of 477.6M and a high estimate of 479.65M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 478.37M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ONB’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of ONB currently trading nearly 7.16% and 5.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 64.70, while the 7-day volatility ratio is showing 2.65% which for the 30-day chart, stands at 2.98%. Furthermore, Old National Bancorp (ONB)’s beta value is 0.87, and its average true range (ATR) is 0.67.
A comparison of Old National Bancorp (ONB) with its peers suggests the former has fared considerably weaker in the market. ONB showed an intraday change of -0.93% in last session, and over the past year, it grew by 40.70%%.
Data on historical trading for Old National Bancorp (NASDAQ:ONB) indicates that the trading volumes over the past 10 days have averaged 4.22 and over the past 3 months, they’ve averaged 2.99 million. According to company’s latest data on outstanding shares, there are 318.98 million shares outstanding.
Nearly 0.90% of Old National Bancorp’s shares belong to company insiders and institutional investors own 83.04% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 34.23 million shares as on 2024-12-31, resulting in a short ratio of 14.42. According to the data, the short interest in Old National Bancorp (ONB) stood at 1378.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 34.48 million. The stock has risen by 7.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ONB stock heading into the next quarter.
