GuruFocus - On July 30, 2024, Derrick Stewart, a Director at Old National Bancorp (NASDAQ:ONB), executed a significant transaction by selling 14,679 shares of the company. The transaction was filed on the same day with the SEC. Following this sale, the insider now owns 0 shares of Old National Bancorp.
Old National Bancorp, headquartered in Evansville, Indiana, operates as the bank holding company for Old National Bank which provides various financial services to individual and commercial customers in the United States. The bank's services include deposit accounts, loans, and other banking products.
The shares were sold at a price of $20.02 each, valuing the transaction at approximately $293,913.58. This sale has adjusted the insider's stake in the company to zero shares.
Reviewing the insider transaction history for Old National Bancorp over the past year, there have been no insider purchases but seven insider sales. The insider, Derrick Stewart, has been active in the market, selling a total of 14,679 shares over the year and making no purchases.
On the valuation front, Old National Bancorp's shares are currently trading at a price-earnings ratio of 11.29. This figure is slightly above the industry median of 10.37 but below the company's historical median. The market cap of Old National Bancorp stands at $6.124 billion.
According to the GF Value, the intrinsic value estimate for Old National Bancorp is around $20.00 per share, making the stock Fairly Valued at its current price of $20.02. The GF Value is derived from historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
This insider sale might draw investor attention towards Old National Bancorp's stock performance and valuation metrics, including its price-sales ratio, price-book ratio, and price-to-free cash flow. These factors are crucial in assessing the company's financial health and market position.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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