Old National Bancorp
Old National Bancorp (NASDAQ: ONB) is the holding company for Old National Bank, which has 162 locations around the United States. Commercial and consumer loan and depository services, private banking, brokerage, trust, investment advising, and other standard banking services are among the company's offerings.
Why should investors Book Profits?
Valuation Methodology: Price/Book Value Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's FY1 trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
ONB share price has surged 13.91% in the past six months and is currently trading in the higher-band of the 52-week range of USD 15.53 to USD 21.28. We have valued the stock using the Price/Book Value-based relative valuation methodology and arrived at a target price of USD 17.11. Considering the company's fall in deposits and loans, net interest margin, and current valuation, we recommend a "Sell" rating on the stock at the closing price of USD 18.92 as of February 15, 2022.