Old National Bancorp (ONB) is a Great Momentum Stock: Should You Buy?

Company Overview - Old National Bancorp (ONB) currently has a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Price Performance - Over the past week, ONB shares have increased by 3.38%, outperforming the Zacks Banks - Midwest industry, which rose by 1.21% [5] - In a longer time frame, ONB shares have gained 13.36% over the past month, compared to the industry's 4.48% [5] - Over the last quarter, ONB shares increased by 6.57%, and over the past year, they have surged by 50.66%, while the S&P 500 only moved 5.98% and 23.28%, respectively [6] Trading Volume - The average 20-day trading volume for ONB is 3,377,007 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, 3 earnings estimates for ONB have been revised upwards, while only 1 estimate was revised downwards, leading to an increase in the consensus estimate from $2.01 to $2.08 [9] - For the next fiscal year, 3 estimates have also moved upwards with no downward revisions during the same period [9] Conclusion - Considering the positive price trends, trading volume, and earnings outlook, ONB is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [11]