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 $803,825 were sold by FALCONER BRENDON B on Apr 25 ’24. At $16.28 per share, FALCONER BRENDON B sold 49,375 shares. The insider’s holdings dropped to 88,712 shares worth approximately $1.48 million following the completion of this transaction.
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Also, SCUDDER MICHAEL L sold 50,000 shares, netting a total of over 840,500 in proceeds. Following the sale of shares at $16.81 each, the insider now holds 215,796 shares.
As published in their initiating research note from Barclays on March 08, 2024, Old National Bancorp [ONB] has been an Overweight and the price target has been revised to $20. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of July 10, 2023, UBS has increased its “Neutral” rating to a “Buy” for ONB. Earlier on March 15, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for ONB stock.
Analyzing ONB Stock Performance
During the last five days, there has been a drop of approximately -4.32%. Over the course of the year, Old National Bancorp shares have dropped approximately -0.95%. Shares of the company reached a 52-week high of $17.82 on 05/15/24 and a 52-week low of $15.36 on 02/13/24. A 50-day SMA is recorded $16.73, while a 200-day SMA reached $15.87. Nevertheless, trading volume fell to 1.18 million shares from 1.14 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 16.56, which, if violated, would cause prices to drop to 16.38. In the upper region, resistance lies at 17.01. The next price resistance is at 17.28. RSI (Relative Strength Index) is 43.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 87.27%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
