Old National Bancorp (NASDAQ: ONB) has reported earnings for its second fiscal quarter (ending June 30) of $0.37 versus $0.52 for the same period a year ago — a decline of -29%. Relative to the consensus estimate of $0.44, this was a shortfall of $-0.07. For the latest four quarters through June 30, E.P.S. were $1.70 compared to $2.16 a year ago — a decline of -21%.
Recent Price Action
Old National Bancorp (NASDAQ: ONB) stock enjoyed a large increase of 2.2% on 7/23/24. The stock closed at $20.19. Moreover, this advance was accompanied by exceptionally high trading volume at 263% of normal. The stock has been strong relative to the market over the last nine months and has risen 8.0% during the last week.
Current PriceTarget Research Rating
ONB’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Old National Bancorp has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects complementary signals from PTR’s two proprietary measures of a stock’s attractiveness. Old National Bancorp has a slightly positive Power Rating of 70 and a very high Appreciation Score of 88, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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