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 $272,924 were sold by ALAHMAR CHADY M. on Jun 11 ’24. At $15.90 per share, ALAHMAR CHADY M. sold 17,165 shares. The insider’s holdings dropped to 50,001 shares worth approximately $0.81 million following the completion of this transaction.
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Also, FALCONER BRENDON B sold 49,375 shares, netting a total of over 803,825 in proceeds. Following the sale of shares at $16.28 each, the insider now holds 88,712 shares.
Before that, SCUDDER MICHAEL L had sold 50,000 shares from its account. In a trade valued at $840,500, the EXECUTIVE CHAIRMAN traded Old National Bancorp shares for $16.81 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $3.51 million.
Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of December 01, 2023, Citigroup has initiated its “Buy” rating for ONB. Earlier on July 10, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for ONB stock which previously was a “a Neutral”.
Analyzing ONB Stock Performance
During the last five days, there has been a surge of approximately 0.87%. Over the course of the year, Old National Bancorp shares have dropped approximately -3.73%. 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 $16.62, while a 200-day SMA reached $15.92. Nevertheless, trading volume fell to 2.9 million shares from 1.61 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 16.09, which, if violated, would cause prices to drop to 15.91. In the upper region, resistance lies at 16.37. The next price resistance is at 16.47. RSI (Relative Strength Index) is 45.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 60.53%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
