Insider Sale: CEO of WEALTH MANAGEMENT Chady Alahmar Sells Shares of Old National Bancorp (ONB)
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Chady Alahmar, CEO of WEALTH MANAGEMENT at Old National Bancorp (NASDAQ:ONB), executed a sale of 17,165 shares of the company on June 11, 2024. The transaction was filed on the same day as per the SEC Filing. Following this transaction, the insider now owns 50,001 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 investment products among others.
Over the past year, Chady Alahmar has sold a total of 17,165 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend observed within the company, where there have been three insider sells and no insider buys over the last year.
On the date of the latest transaction, shares of Old National Bancorp were trading at $15.9. This pricing gives the company a market cap of approximately $5.14 billion. The price-earnings ratio of the stock stands at 8.71, which is lower than the industry median of 9.43 and also below the company's historical median.
According to the GF Value, which is an intrinsic value estimate used by GuruFocus, Old National Bancorp has a GF Value of $19.83. With the current price of $15.9, the stock has a price-to-GF-Value ratio of 0.8, indicating that it is Modestly Undervalued.
The GF Value is calculated based on historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the companys past returns and growth, and future business performance estimates from analysts.
This sale by the insider may be of interest to current and potential investors, providing insight into the insider's perspective on the stock's valuation and future prospects.
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.
This article first appeared on GuruFocus.