Old National Bancorp Stock Jumps as Bank Shares Bounce
Old National Bancorp shares climbed almost 3% on Thursday as investors turned back to financials in a wider bank stock rally. The Nasdaq-traded stock was recently quoted at $23.97, up 66.5 cents. It traded in a range of $23.43 to $24.07. The market cap was around $9.3 billion, and the P/E ratio stood at 12.4. That put the stock at about 12.4 times annual earnings. Financial stocks carried most of the gains as the U.S. session turned out mixed. The Dow ended up 1.73% at an all-time high, the S&P 500 rose 0.41%, and the Nasdaq lost 0.09%. Reuters reported financials as one of the top S&P 500 sectors. Paul Nolte at Murphy & Sylvest told Reuters that investors were