Old National Bancorp [ONB] President and COO makes an insider purchase of 7,000 shares worth 0.11 million.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Old National Bancorp shares valued at $107,166 were purchased by Sander Mark G on May 02. At $15.31 per share, Sander Mark G acquired 7,000 shares. The insider’s holdings grew to 387,564 shares worth approximately $6.58 million following the completion of this transaction.

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Also, FALCONER BRENDON B purchased 3,000 shares, netting a total of over 45,720 in proceeds. Following the buying of shares at $15.24 each, the insider now holds 3,000 shares.

Before that, SCUDDER MICHAEL L had added 8,170 shares to its account. In a trade valued at $125,020, the Executive Chairman bought Old National Bancorp shares for $15.30 each. Upon closing the transaction, the insider’s holdings increased to 8,170 shares, worth approximately $5.13 million.

As published in a research note from Stephens on May 13, 2022, Old National Bancorp [ONB] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $19. This represents a 10.58% premium over Thursday’s closing price. Analysts at Keefe Bruyette upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of August 17, 2021, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for ONB. Earlier on November 12, 2020, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for ONB stock which previously was a “an Overweight”.

Analyzing ONB’s Price Performance

On Thursday, Old National Bancorp [NASDAQ: ONB] plunged -1.28% to $16.99. The stock’s lowest price that day was $16.97, but it reached a high of $17.305 in the same session. During the last five days, there has been a drop of approximately -0.59%. Over the course of the year, Old National Bancorp shares have dropped approximately -6.24%. Shares of the company reached a 52-week high of $20.81 on 01/18/22 and a 52-week low of $14.22 on 06/16/22. A 50-day SMA is recorded $15.58, while a 200-day SMA reached $16.99. Nevertheless, trading volume fell to 1.18 million shares from 1.71 million shares the previous day.

Support And Resistance Levels for Old National Bancorp (ONB)

According to the 24-hour chart, there is a support level at 16.87, which, if violated, would cause prices to drop to 16.75. In the upper region, resistance lies at 17.21. The next price resistance is at 17.42. RSI (Relative Strength Index) is 67.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.58, which suggests the price will decrease in the coming days. Percent R is at 22.30%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Old National Bancorp subject to short interest?

Stocks of Old National Bancorp saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.36 million shares to 9.52 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.88 million shares. A decline of -3.78% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.75 of the overall float, the days-to-cover ratio (short ratio) decline to 4.75.

Which companies own the most shares of Old National Bancorp (ONB)?

According to BlackRock Fund Advisors filings, the company currently owns 30,059,774 shares, which is about 10.26% of the total ONB shares outstanding. The investor’s shares have plunged by -10,550,844 from its previous 13-F filing of 40610618.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $431,599,428. Dimensional Fund Advisors LP reduced a -3.20% interest valued at $267.26 million while SSgA Funds Management, Inc. sold a -858,769 stake. A total of 358,452 shares of Old National Bancorp were sold by Fuller & Thaler Asset Management, during the quarter, and 1,310,843 were bought by American Century Investment Manag. In its current portfolio, Geode Capital Management LLC holds 5,346,043 shares valued at $79.07 million.

In terms of Old National Bancorp share price expectations, FactSet research, analysts set an average price target of $20.83 in the next 12 months, up nearly 19.12% from the previous closing price of $17.21. Analysts anticipate Old National Bancorp stock to reach $24.00 by 2022, with the lowest price target being $18.50. In spite of this, 7 analysts ranked Old National Bancorp stock as an Overweight at the end of 2022.


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