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Old National Bancorp Capital ( (ONB) ) just unveiled an announcement.
Old National Bancorp entered into an underwriting agreement and forward sale agreements on November 25, 2024, involving the sale of 19,047,619 shares of common stock, with Citigroup Global Markets Inc. acting as the representative for the underwriters. The company also granted an option to purchase an additional 2,857,143 shares, which was exercised in full on the same day. On May 23, 2025, Old National Bancorp settled these agreements by delivering a total of 21,904,762 shares, resulting in net proceeds of approximately $443.2 million.
The most recent analyst rating on (ONB) stock is a Buy with a $63.00 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.
Old National Bancorp’s strong financial performance, highlighted by revenue growth and a zero-debt position, is bolstered by the successful Bremer Bank merger and positive earnings call. While challenges such as declining net profit margins and economic uncertainties exist, the company’s strategic initiatives and reasonable valuation provide a solid foundation for potential growth.
To see Spark’s full report on ONB stock, click here.
More about Old National Bancorp Capital
Average Trading Volume: 3,428,841
Technical Sentiment Signal: Strong Buy
Current Market Cap: $7.95B
Learn more about ONB stock on TipRanks’ Stock Analysis page.