The stock of Old National Bancorp (NASDAQ:ONB) hit a new 52-week high and has $20.48 target or 36.00% above today’s $15.06 share price. The 7 months bullish chart indicates low risk for the $2.03 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $20.48 price target is reached, the company will be worth $730.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 313,689 shares traded hands. Old National Bancorp (NASDAQ:ONB) has risen 25.86% since April 7, 2016 and is uptrending. It has outperformed by 21.08% the S&P500.
Old National Bancorp (NASDAQ:ONB) Ratings Coverage
Out of 5 analysts covering Old National Bancorp (NASDAQ:ONB), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Old National Bancorp has been the topic of 6 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Old National Bancorp (NASDAQ:ONB) earned “Neutral” rating by Piper Jaffray on Monday, July 11. The stock of Old National Bancorp (NASDAQ:ONB) earned “Market Perform” rating by Wood on Tuesday, August 2. The stock of Old National Bancorp (NASDAQ:ONB) earned “Overweight” rating by Stephens on Tuesday, August 4. The firm earned “Outperform” rating on Tuesday, March 29 by Raymond James.
According to Zacks Investment Research, “Old National Bancorp is a bank holding company that operates banking offices and ATMs throughout Indiana, Illinois, Ohio, Kentucky, and Tennessee. Through various subsidiaries, Old National provides a broad range of banking services as well as trust and investment management services, insurance brokerage services for both individuals and companies, and investment products. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 2.47 in Q2 2016. Its up 0.66, from 1.81 in 2016Q1. The ratio increased, as 13 funds sold all Old National Bancorp shares owned while 36 reduced positions. 27 funds bought stakes while 94 increased positions. They now own 92.57 million shares or 15.40% more from 80.22 million shares in 2016Q1.
Tiaa Cref Investment Mgmt Ltd Liability Corporation accumulated 0% or 419,734 shares. Barclays Public Limited Com has 42,558 shares for 0% of their US portfolio. First Mercantile Tru last reported 9,660 shares in the company. Culbertson A N & Communication Inc has invested 0.08% of its portfolio in Old National Bancorp (NASDAQ:ONB). Swiss Natl Bank last reported 0% of its portfolio in the stock. Sg Americas Securities Limited reported 19,659 shares or 0% of all its holdings. The Illinois-based Balyasny Asset Limited has invested 0.05% in Old National Bancorp (NASDAQ:ONB). Ubs Asset Americas accumulated 95,567 shares or 0% of the stock. Metropolitan Life Ins Ny, a New York-based fund reported 95,933 shares. The Tennessee-based Livingston Gp Asset Mngmt Communications (Operating As Southport Capital Management) has invested 0.03% in Old National Bancorp (NASDAQ:ONB). Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Dreman Value L L C holds 0.01% or 693 shares in its portfolio. North Star Mngmt holds 475 shares or 0% of its portfolio. New York State Teachers Retirement Systems accumulated 306,934 shares or 0.01% of the stock. Sit Investment reported 6,350 shares or 0% of all its holdings.
Insider Transactions: Since May 13, 2016, the stock had 3 insider buys, and 3 selling transactions for $496,281 net activity. Shepard Randall T bought $12,285 worth of stock. Morris James T also bought $6,835 worth of Old National Bancorp (NASDAQ:ONB) on Thursday, August 11. Wolking Christopher A sold $41,220 worth of stock. MOORE DARYL D sold $461,490 worth of stock or 33,442 shares. 1,000 shares with value of $14,345 were bought by Vanzo Kendra L on Wednesday, November 2. Another trade for 1,800 shares valued at $24,759 was made by Skillman Rebecca S on Monday, August 8.
More recent Old National Bancorp (NASDAQ:ONB) news were published by: Seekingalpha.com which released: “Old National Bancorp: Sluggish Outlook” on November 01, 2016. Also Seekingalpha.com published the news titled: “Old National Bancorp’s (ONB) CEO Bob Jones on Q3 2016 Results – Earnings Call …” on October 31, 2016. Prnewswire.com‘s news article titled: “Research Reports Coverage on Banking Stocks — Old National Bancorp …” with publication date: October 28, 2016 was also an interesting one.
ONB Company Profile
Old National Bancorp, incorporated on July 19, 1982, is a financial holding company. The Company, through its banking subsidiary, provides a range of services, including commercial and consumer loan and depository services, private banking, brokerage, trust, investment advisory, and other traditional banking services. Through its non-bank affiliates, the Company provides full service insurance brokerage services and other financial services. The Firm operates in two divisions: banking and insurance.
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