Old National Bancorp (NASDAQ: ONB) – Suitable For Long Term Buy?

Currently, there are 318.97M common shares owned by the public and among those 315.88M shares have been available to trade.

The company’s stock has a 5-day price change of 15.08% and 24.54% over the past three months. ONB shares are trading 15.69% year to date (YTD), with the 12-month market performance up to 34.20% higher. It has a 12-month low price of $12.36 and touched a high of $18.83 over the same period. ONB has an average intraday trading volume of 1.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.42%, 15.47%, and 21.37% respectively.

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Institutional ownership of Old National Bancorp (NASDAQ: ONB) shares accounts for 78.13% of the company’s 318.97M shares outstanding.

It has a market capitalization of $6.23B and a beta (3y monthly) value of 0.83. The stock’s trailing 12-month PE ratio is 10.57, while the earnings-per-share (ttm) stands at $1.85. The company has a PEG of 1.32 and the debt-to-equity ratio at 0.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.05% over the week and 2.24% over the month.

Earnings per share for the fiscal year are expected to decrease by -10.44%, and 10.31% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 9.72% over the past 5-year period.

Looking at the support for the ONB, a number of firms have released research notes about the stock. Hovde Group stated their Outperform rating for the stock in a research note on June 03, 2024, with the firm’s price target at $20. Barclays coverage for the Old National Bancorp (ONB) stock in a research note released on March 08, 2024 offered a Overweight rating with a price target of $20. Citigroup was of a view on December 01, 2023 that the stock is Buy, while UBS gave the stock Buy rating on July 10, 2023, issuing a price target of $14.50- $15.50. UBS on their part issued Neutral rating on March 15, 2023.

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