Old National Bancorp Capital (ONB) AI Stock Analysis

• Market Cap: $8.68B
• Dividend Yield: 2.53%
• Average Volume (3M): 3.27M
• Price to Earnings (P/E): 13.1
• Beta (1Y): 1.19
• Revenue Growth: 15.94%
• EPS Growth: -0.47%
• Country: US
• Employees: 4,028
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.53
• Shares Outstanding: 391,855,000
• 10 Day Avg. Volume: 4,459,698
• 30 Day Avg. Volume: 3,266,609
• 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: 1.72
• Enterprise Value/Revenue: 4.63
• Enterprise Value/Gross Profit: 7.79
• Enterprise Value/Ebitda: 18.99
• 1Y Price Target: $26.44
• Price Target Upside: 19.42% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 74 Outperform
• Price Target: $26.00 ▲(17.43% Upside)

Old National Bancorp Capital's overall stock score reflects its stable financial performance, strong technical indicators, and positive earnings call sentiment. The company's successful integration of Bremer Bank and disciplined expense management are significant strengths. However, the fair valuation and cautious outlook due to competitive pressures slightly temper the score.

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 primarily through interest income from loans and fees from a variety of banking services. The company's key revenue streams include net interest income, which is derived from the interest earned on loans issued to customers minus the interest paid on deposits. Additionally, ONB earns non-interest income through service fees, wealth management services, and transaction fees associated with its banking operations. Significant partnerships with local businesses and community organizations also contribute to its customer base, enhancing its ability to cross-sell products and services, ultimately driving earnings growth.

Old National Bancorp Capital Financial Statement Overview

Summary

Old National Bancorp Capital shows steady revenue growth and strong profitability margins. The balance sheet is stable with a manageable debt-to-equity ratio, though high total liabilities could pose future risks. Cash flow conversion is healthy, but significant investing cash flows may impact liquidity.

Income Statement

Old National Bancorp Capital has demonstrated steady revenue growth with a TTM revenue increase of approximately 1.7% compared to the previous year. The net profit margin stands strong at 18.74%, indicating efficient cost management. However, a slight decline in EBIT and EBITDA margins from previous periods suggests potential pressures on operational efficiency.

Balance Sheet

The company maintains a healthy equity ratio of 12.13%, reflecting a solid capital base. The debt-to-equity ratio is manageable at 0.83, indicating moderate leverage. Return on equity is robust at 8.63%, demonstrating effective utilization of shareholders' equity. While overall stability is evident, the high total liabilities may pose future risks if not managed carefully.

Cash Flow

Free cash flow has shown a positive growth of 1.12% year over year, indicating good cash generation from operations. The operating cash flow to net income ratio is at 1.11, suggesting a healthy conversion of net income into cash. However, the need for significant investing cash flows for business expansion could impact liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.21B	2.96B	2.54B	1.85B	852.87M	902.58M
Gross Profit	1.91B	1.77B	1.78B	1.58B	840.24M	792.49M
EBITDA	784.08M	746.07M	816.56M	607.03M	377.47M	298.56M
Net Income	567.74M	539.19M	581.99M	428.29M	277.54M	226.41M
Balance Sheet
Total Assets	70.98B	53.55B	49.09B	46.76B	24.45B	22.96B
Cash, Cash Equivalents and Short-Term Investments	2.12B	8.69B	7.89B	7.50B	8.20B	6.56B
Total Debt	7.35B	5.41B	5.33B	5.59B	2.65B	2.76B
Total Liabilities	62.85B	47.21B	43.53B	41.63B	21.44B	19.99B
Stockholders Equity	8.13B	6.34B	5.56B	5.13B	3.01B	2.97B
Cash Flow
Free Cash Flow	511.14M	592.01M	477.97M	776.52M	281.69M	188.95M
Operating Cash Flow	538.16M	622.28M	516.34M	814.42M	330.38M	219.82M
Investing Cash Flow	-1.10B	-1.37B	-1.82B	-1.69B	-1.43B	-2.14B
Financing Cash Flow	1.14B	802.59M	1.75B	777.48M	1.33B	2.24B

Old National Bancorp Capital Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 22.14 is below the 20-day moving average (MA) of 22.36, above the 50-day MA of 21.85, and above the 200-day MA of 21.54, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 50.08 is Neutral, neither overbought nor oversold. The STOCH value of 34.06 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
UMBF	80 Outperform	$9.07B	13.71	7.25%	1.34%	30.40%	12.40%
BPOP	79 Outperform	$8.65B	12.42	12.11%	2.23%	6.27%	45.08%
WTFC	79 Outperform	$8.97B	12.67	10.24%	1.45%	4.74%	10.10%
CMA	75 Outperform	$8.92B	13.35	10.57%	4.09%	-8.62%	15.37%
ONB	74 Outperform	$8.68B	13.14	8.00%	2.53%	15.94%	-0.47%
ZION	72 Outperform	$8.49B	10.50	12.80%	3.02%	2.64%	32.07%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Old National Bancorp Capital Corporate Events

Old National Bancorp Highlights Q2 2025 Investment Strategy

Old National Bancorp released its investment thesis for the second quarter of 2025, emphasizing its strategic goals and financial metrics. The company highlighted its focus on maintaining a strong credit culture, a diversified loan portfolio, and a low-cost deposit base to drive long-term shareholder value. The release also discussed the implications of its recent merger with Bremer Financial Corporation, noting potential cost savings and synergies, while addressing risks such as competition, regulatory changes, and economic conditions that could impact its operations.

Old National Bancorp Declares Quarterly Cash Dividend

On August 13, 2025, Old National Bancorp announced its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock, payable on September 15, 2025, to shareholders of record as of September 5, 2025. Additionally, a quarterly cash dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, was declared, payable on November 20, 2025, to shareholders of record as of November 5, 2025.

Old National Bancorp Appoints Timothy Burke as President

On July 22, 2025, Old National Bancorp announced the appointment of Timothy M. Burke, Jr. as President and Chief Operating Officer, succeeding the retired Mark G. Sander. Burke, who brings nearly 30 years of banking experience, previously held significant roles at KeyBank, including Executive Vice President and Head of the Central Region. His appointment is accompanied by a comprehensive compensation package, including a base salary, bonuses, equity awards, and severance benefits, reflecting the company’s strategic focus on leadership continuity and operational excellence.