Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Old National Bancorp shares valued at $251,100 were purchased by Brown Thomas Lynn on Sep 14. At $16.74 per share, Brown Thomas Lynn acquired 15,000 shares. The insider’s holdings grew to 18,400 shares worth approximately $0.35 million following the completion of this transaction.
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Also, Sander Mark G purchased 7,000 shares, netting a total of over 107,166 in proceeds. Following the buying of shares at $15.31 each, the insider now holds 387,564 shares.
Before that, FALCONER BRENDON B had added 3,000 shares to its account. In a trade valued at $45,720, the CFO bought Old National Bancorp shares for $15.24 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $57750.0.
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 -1.32% premium over Wednesday’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 Stock Performance
On Wednesday, Old National Bancorp [NASDAQ: ONB] plunged -2.33% to $19.25. The stock’s lowest price that day was $19.23, but it reached a high of $19.81 in the same session. During the last five days, there has been a surge of approximately 0.94%. Over the course of the year, Old National Bancorp shares have jumped 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 $17.53, while a 200-day SMA reached $16.80. Nevertheless, trading volume fell to 2.3 million shares from 1.8 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 19.05, which, if violated, would cause prices to drop to 18.85. In the upper region, resistance lies at 19.63. The next price resistance is at 20.01. RSI (Relative Strength Index) is 63.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.76, which suggests the price will decrease in the coming days. Percent R is at 26.40%, 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 30,849,089 shares, which is about 10.53% of the total ONB shares outstanding. The investor’s shares have appreciated by 789,315 from its previous 13-F filing of 30059774.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $484,074,464. Fuller & Thaler Asset Management, acquire a 22.50% interest valued at $288.61 million while Dimensional Fund Advisors LP sold a -2,159,904 stake. A total of -1,591,909 shares of Old National Bancorp were sold by SSgA Funds Management, Inc. during the quarter, and 306,144 were bought by American Century Investment Manag. In its current portfolio, Geode Capital Management LLC holds 5,390,411 shares valued at $88.78 million.
In terms of Old National Bancorp share price expectations, FactSet research, analysts set an average price target of $22.33 in the next 12 months, up nearly 14.16% from the previous closing price of $19.71. Analysts anticipate Old National Bancorp stock to reach $24.00 by 2022, with the lowest price target being $21.00. In spite of this, 7 analysts ranked Old National Bancorp stock as an Overweight at the end of 2022.