Old National Bancorp Expands Capital Returns, Adjusts Governance

Old National Bancorp Capital ( (ONB) ) has provided an announcement.

On February 17, 2026, four Old National Bancorp directors — Ellen A. Rudnick, Rebecca S. Skillman, Stephen C. Van Arsdell and Austin M. Ramirez — notified the company they intend to retire from the board at the end of their terms at the May 13, 2026 annual meeting, with three departures tied to the firm’s age-based governance rules and Ramirez stepping down due to other professional commitments. The board responded by amending its by-laws on February 18, 2026 to allow board size to be set by resolution and voted to cut the board from 16 to 12 members once those retirements take effect, signaling a move to a smaller, more flexible governance structure.

In parallel, Old National’s board on February 18, 2026 approved a 3.6% increase in the quarterly cash dividend on common stock to $0.145 per share, payable March 16, 2026 to shareholders of record on March 5, 2026, and declared quarterly dividends on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, payable May 20, 2026. The board also doubled the size of the company’s share repurchase authorization to $400 million, effective through February 28, 2027, replacing a $200 million program and underscoring a more aggressive capital return stance that may enhance earnings per share and support the stock for existing shareholders.

The most recent analyst rating on (ONB) stock is a Hold with a $26.00 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 the holding company of Old National Bank and is the sixth-largest commercial bank headquartered in the Midwest, serving clients primarily across the Midwest and Southeast. With about $72 billion in assets and $37 billion in assets under management, it ranks among the top 25 U.S. banking companies and offers consumer and commercial banking, wealth management and capital markets services.

Tracing its roots to 1834, Old National emphasizes long-term client partnerships and community engagement and was recognized in 2025 by Points of Light as one of “The Civic 50,” highlighting its status as one of the most community-minded companies in the United States.

Average Trading Volume: 2,871,230

Technical Sentiment Signal: Buy

Current Market Cap: $9.72B

See more data about ONB stock on TipRanks’ Stock Analysis page.