Old Reaches New 52-Week High (ONB)

NEW YORK ( TheStreet) -- Old National Bancorp (NYSE: ONB) hit a new 52-week high Tuesday as it is currently trading at $12.34, above its previous 52-week high of $12.17 with 66,604 shares traded as of 10:05 a.m. ET. Average volume has been 739,000 shares over the past 30 days.

Old has a market cap of $1.13 billion and is part of the financial sector and banking industry. Shares are up 4.3% year to date as of the close of trading on Monday.

Old National Bancorp operates as a holding company for Old National Bank, which provides financial services to individuals and commercial customers primarily in Indiana, eastern and southeastern Illinois, and central and western Kentucky. The company has a P/E ratio of 19.9, equal to the average banking industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Old as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, expanding profit margins, solid stock price performance and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Old Ratings Report.

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