Viewing insider transactions for Old National Bancorp's (NASDAQ:ONB ) over the last year, we see that insiders were net sellers. This means that a larger number of shares were sold by insiders in relation to shares purchased.
While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing.
View our latest analysis for Old National Bancorp
Old National Bancorp Insider Transactions Over The Last Year
The Executive Chairman, Michael Scudder, made the biggest insider sale in the last 12 months. That single transaction was for US$895k worth of shares at a price of US$17.90 each. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. The good news is that this large sale was at well above current price of US$13.60. So it may not tell us anything about how insiders feel about the current share price. Michael Scudder was the only individual insider to sell shares in the last twelve months.
Happily, we note that in the last year insiders paid US$268k for 20.70k shares. But insiders sold 142.55k shares worth US$2.5m. Michael Scudder sold a total of 142.55k shares over the year at an average price of US$17.51. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
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Insiders At Old National Bancorp Have Sold Stock Recently
The last quarter saw substantial insider selling of Old National Bancorp shares. Specifically, Executive Chairman Michael Scudder ditched US$841k worth of shares in that time, and we didn't record any purchases whatsoever. Overall this makes us a bit cautious, but it's not the be all and end all.
Insider Ownership Of Old National Bancorp
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Insiders own 1.2% of Old National Bancorp shares, worth about US$50m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The Old National Bancorp Insider Transactions Indicate?
An insider sold Old National Bancorp shares recently, but they didn't buy any. Zooming out, the longer term picture doesn't give us much comfort. But since Old National Bancorp is profitable and growing, we're not too worried by this. Insiders own shares, but we're still pretty cautious, given the history of sales. We'd practice some caution before buying! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Old National Bancorp. Be aware that Old National Bancorp is showing 2 warning signs in our investment analysis, and 1 of those doesn't sit too well with us...
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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
