Old National Bancorp Capital (ONB) AI Stock Analysis

• Market Cap: $9.12B
• Dividend Yield: 2.4%
• Average Volume (3M): 2.75M
• Price to Earnings (P/E): 13.7
• Beta (1Y): 1.15
• Revenue Growth: 20.72%
• EPS Growth: 3.63%
• Country: US
• Employees: 4,028
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.59
• Shares Outstanding: 390,773,000
• 10 Day Avg. Volume: 3,208,328
• 30 Day Avg. Volume: 2,753,649
• PEG Ratio: -0.93
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 2.27
• P/FCF Ratio: 11.35
• Enterprise Value/Market Cap: 1.68
• Enterprise Value/Revenue: 4.42
• Enterprise Value/Gross Profit: 7.18
• Enterprise Value/Ebitda: 18.21
• 1Y Price Target: $26.00
• Price Target Upside: 11.35% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 2.16
• Revenue Forecast (FY): $2.54B

• Rating: 80 Outperform
• Price Target: $26.00 ▲(11.35% Upside)

Old National Bancorp Capital's strong financial performance and positive earnings call sentiment are the most significant factors driving the score. The technical analysis supports a bullish outlook, while the valuation is reasonable but not exceptional. The recent dividend announcement further enhances investor confidence.

Positive Factors

Revenue Growth

Consistent revenue growth indicates robust business expansion, enhancing the company's market position and long-term financial stability.

Cash Flow Management

Effective cash flow management supports operational flexibility and investment capacity, crucial for sustaining long-term growth.

Successful Integration of Bremer Bank

Successful integration of Bremer Bank enhances operational efficiency and expands market reach, contributing to future growth prospects.

Negative Factors

Profitability Margins Decline

Declining margins suggest rising operational costs or competitive pressures, which could impact long-term profitability if not addressed.

Merger-Related Expenses

High merger-related expenses can strain financial resources and impact short-term profitability, potentially affecting future investments.

CEO Retirement

CEO retirement may lead to strategic shifts and operational changes, impacting the company's long-term direction and stability.

Old National Bancorp Capital Business Overview & Revenue Model

Company Description

Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing. The company also provides debit and automated teller machine cards, telephone access, online banking, and other electronic and mobile banking services; cash management, private banking, brokerage, trust, investment advisory, and other traditional banking services; wealth management, investment, and foreign currency services; and treasury management, merchant, health savings, and capital markets services, as well as community development lending and equity investment solutions. As of December 31, 2021, it operated a total of 162 banking centers located primarily in the states of Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.

How the Company Makes Money

Old National Bancorp generates revenue through several key streams, primarily from net interest income and non-interest income. Net interest income is earned from the interest on loans and securities minus the interest paid on deposits and borrowings. The company provides various types of loans, including commercial, consumer, and mortgage loans, which contribute significantly to its interest income. Non-interest income comes from fees and commissions related to services such as wealth management, investment banking, and treasury management. Additionally, Old National Bancorp may form strategic partnerships with other financial institutions and businesses to enhance its service offerings and expand its customer base, further contributing to its revenue. The company's financial performance is also influenced by economic conditions, interest rates, and regulatory factors in the banking industry.

Old National Bancorp Capital Financial Statement Overview

Summary

Old National Bancorp Capital exhibits solid financial health with strong revenue growth and effective cash flow management. While profitability margins have slightly declined, the company maintains a balanced leverage position and a stable capital structure. Continued focus on operational efficiency and asset management could enhance future performance.

Income Statement

Old National Bancorp Capital shows strong revenue growth with a 7.68% increase in TTM, indicating robust business expansion. The gross profit margin is healthy at 61.60%, though slightly lower than previous years. Net profit margin is stable at 17.53%, reflecting consistent profitability. However, there is a slight decline in EBIT and EBITDA margins compared to prior periods, suggesting increased operational costs or competitive pressures.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.81, indicating a balanced approach to leveraging. Return on equity is reasonable at 8.28%, though it has slightly decreased from previous years, suggesting a need for improved efficiency in using equity capital. The equity ratio stands at 11.67%, reflecting a stable capital structure but with room for improvement in asset management.

Cash Flow

Cash flow performance is strong, with a significant 46.98% growth in free cash flow, highlighting effective cash management. The operating cash flow to net income ratio is low at 1.24%, indicating potential challenges in converting income into cash. However, the free cash flow to net income ratio is high at 99.11%, demonstrating efficient cash generation relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.46B	2.96B	2.54B	1.85B	852.87M	902.58M
Gross Profit	2.13B	1.77B	1.78B	1.58B	840.24M	792.49M
EBITDA	840.87M	746.07M	816.56M	607.03M	377.47M	298.56M
Net Income	606.51M	539.19M	581.99M	428.29M	277.54M	226.41M
Balance Sheet
Total Assets	71.21B	53.55B	49.09B	46.76B	24.45B	22.96B
Cash, Cash Equivalents and Short-Term Investments	1.68B	8.69B	7.89B	7.50B	8.20B	6.56B
Total Debt	6.77B	5.41B	5.33B	5.59B	2.65B	2.76B
Total Liabilities	62.90B	47.21B	43.53B	41.63B	21.44B	19.99B
Stockholders Equity	8.31B	6.34B	5.56B	5.13B	3.01B	2.97B
Cash Flow
Free Cash Flow	751.29M	592.01M	477.97M	776.52M	281.69M	188.95M
Operating Cash Flow	758.04M	622.28M	516.34M	814.42M	330.38M	219.82M
Investing Cash Flow	-1.25B	-1.37B	-1.82B	-1.69B	-1.43B	-2.14B
Financing Cash Flow	986.36M	802.59M	1.75B	777.48M	1.33B	2.24B

Old National Bancorp Capital Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.35
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ONB, the sentiment is Positive. The current price of 23.35 is above the 20-day moving average (MA) of 22.32, above the 50-day MA of 21.21, and above the 200-day MA of 21.13, indicating a bullish trend. The MACD of 0.60 indicates Negative momentum. The RSI at 68.63 is Neutral, neither overbought nor oversold. The STOCH value of 71.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ONB.

Old National Bancorp Capital Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ONB	80 Outperform	$9.12B	13.73	8.26%	2.40%	20.72%	3.63%
WTFC	78 Outperform	$9.53B	13.08	11.69%	1.41%	3.58%	13.93%
UMBF	77 Outperform	$9.03B	13.46	11.06%	1.37%	38.81%	10.38%
BPOP	77 Outperform	$8.33B	11.06	13.05%	2.32%	5.87%	53.36%
ZION	74 Outperform	$8.85B	10.72	12.71%	2.94%	0.12%	27.30%
CMA	71 Outperform	$11.28B	16.89	9.64%	3.22%	-7.07%	31.09%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Old National Bancorp Capital Corporate Events

Old National Bancorp Announces CEO Retirement

On December 3, 2025, Old National Bancorp announced that Jim Sandgren, the Commercial Banking CEO, will retire in April 2026 after nearly 35 years with the company. Sandgren has been pivotal in shaping the bank’s commercial strategy, contributing to its growth into a $71 billion institution. His departure marks the end of a significant era for Old National, with Sandgren’s leadership and community involvement leaving a lasting impact on the company’s culture and operations.

Old National Bancorp Declares Quarterly Cash Dividend

On November 12, 2025, Old National Bancorp announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock, payable on December 15, 2025. Additionally, a quarterly cash dividend of $17.50 per share was declared on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, payable on February 20, 2026. This decision reflects the company’s commitment to providing returns to its shareholders and maintaining its financial stability.

Old National Bancorp Highlights Q3 2025 Financial Strategy

Old National Bancorp has released an investor presentation detailing its strategic objectives and financial performance as of the third quarter of 2025. The company emphasizes its focus on maintaining a diversified loan portfolio, strong credit culture, and low-cost deposit base to drive long-term shareholder value. The presentation also highlights the company’s use of non-GAAP financial measures to provide a clearer picture of its operational performance, excluding merger-related charges and other non-core items.