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An announcement from Old National Bancorp Capital ( (ONB) ) is now available.
On January 29, 2026, Old National Bancorp completed a $450 million issuance of 5.768% fixed-to-floating rate subordinated notes due 2036, sold at a 0.75% underwriting discount for net proceeds of about $446.6 million before expenses, to be used for general corporate purposes. The notes pay a fixed 5.768% coupon until February 15, 2031, then float at a benchmark rate expected to be three‑month Term SOFR plus 220 basis points until their February 15, 2036 maturity, are redeemable at the company’s option starting in 2031 or upon specified regulatory and tax events subject to Federal Reserve approval, and are deeply subordinated—ranking junior to senior and secured debt and structurally subordinated to all liabilities of its subsidiaries—highlighting their role as Tier 2-style capital in the firm’s funding structure.
The most recent analyst rating on (ONB) stock is a Buy with a $27.00 price target. To see the full list of analyst forecasts on Old National Bancorp Capital stock, see the ONB Stock Forecast page.
Spark’s Take on ONB Stock
According to Spark, TipRanks’ AI Analyst, ONB is a Outperform.
The score is driven primarily by solid financial performance (revenue growth, strong free-cash-flow growth, and a stable balance sheet) and a notably positive earnings outlook (loan growth, NII/NIM support, cost saves, strong capital/credit). Technicals are supportive but not strong enough to materially lift the score, while valuation remains reasonable with a moderate dividend yield.
To see Spark’s full report on ONB stock, click here.
More about Old National Bancorp Capital
Old National Bancorp is a bank holding company whose primary business is providing banking and financial services through its subsidiaries, including Old National Bank. The company focuses on traditional banking activities such as deposit-taking, lending, and related financial services, with liabilities at the bank subsidiary level structurally senior to obligations at the holding company level.
Average Trading Volume: 2,777,094
Technical Sentiment Signal: Buy
Current Market Cap: $9.33B
See more data about ONB stock on TipRanks’ Stock Analysis page.