ONB Stock Fair Value – Old National Bancorp’s Relative Strength Rating Upgraded, But Still Below 80
August 9, 2023
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Old National Bancorp ($NASDAQ:ONB) is a United States-based financial holding company whose primary subsidiary is Old National Bank. Friday saw a significant improvement in Old National Bancorp’s Relative Strength Rating, which was upgraded from 70 to 79. This upgrade could be seen as a positive sign for the company, as it indicates an increase in its financial stability and health.
However, the rating is still below the 80 mark that is typically needed to be considered a “strong buy”, so investors should still exercise caution when investing in Old National Bancorp and consult with an expert before making any decisions. Despite the fact that Old National Bancorp’s Relative Strength Rating has not yet reached the level of being considered a “strong buy”, it is still worth noting that the company’s rating has improved significantly, and this could be indicative of further growth in the future. As such, investors may want to consider including Old National Bancorp in their portfolio as a potential long-term investment option.
Share Price
Old National Bancorp’s stock opened at $17.2 and closed at $17.2 on Friday, down 0.3% from its previous closing price of 17.3. While the rating has been upgraded, it is still below the 80 level which is an indication of strong market performance. Investors should keep in mind that relative strength ratings are a measure of stock performance compared to the overall market and that OLD NATIONAL BANCORP’s rating is still below what is considered to be a strong market performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ONB. More…
| Total Revenues | Net Income | Net Margin |
| – | 626.39 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ONB. More…
| Operations | Investing | Financing |
| 814.42 | -1.69k | 777.48 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ONB. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 48.5k | 43.2k | – |
Key Ratios Snapshot
Some of the financial key ratios for ONB are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 29.5% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – ONB Stock Fair Value
At GoodWhale, we recently conducted an analysis of OLD NATIONAL BANCORP’s wellbeing. After careful consideration of valuation and assumptions, we have concluded that the intrinsic value of OLD NATIONAL BANCORP share is around $21.3, calculated by our proprietary Valuation Line. This value implies that OLD NATIONAL BANCORP stock is currently undervalued by 19.2% as it is currently being traded at $17.2. To the investors, this signifies a great opportunity to buy the stock as it is lower than its fair price. More…
Peers
The company has more than $17 billion in assets and more than 200 branch locations. First Financial Bankshares Inc, S&T Bancorp Inc, and OFG Bancorp are all competitors of Old National Bancorp.
– First Financial Bankshares Inc ($NASDAQ:FFIN)
First Financial Bankshares Inc, headquartered in Abilene, Texas, is a financial holding company with $9.3 billion in assets. First Financial operates three community bank subsidiaries, more than 70 banking locations, and one national bank subsidiary. The company’s principal business activities include commercial banking, real estate lending, and investment banking.
– S&T Bancorp Inc ($NASDAQ:STBA)
S&T Bancorp Inc is a bank holding company based in the United States. It is the holding company for S&T Bank, which operates in Pennsylvania, New York, and Ohio. As of December 31, 2019, S&T Bancorp had $6.7 billion in assets, $4.5 billion in loans, and $5.3 billion in deposits. The company offers a full range of banking services to both individuals and businesses. These services include checking and savings accounts, loans, credit cards, and investment products.
– OFG Bancorp ($NYSE:OFG)
OFG Bancorp is a holding company that operates through its subsidiaries. It offers banking, insurance, and investment products and services to individuals and businesses in Puerto Rico, the Virgin Islands, and other markets. As of 2022, the company had a market cap of 1.3 billion dollars.
Summary
Old National Bancorp recently received a favorable Relative Strength Rating upgrade from 70 to 79. This is a positive indicator for investors as it indicates that the company has improved its financial strength since the last analysis. Investors should consider this when making their investment decisions, as the company may still be considered a higher risk investment.
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