Old National Bancorp Capital (ONB) AI Stock Analysis

• Market Cap: $8.42B
• Dividend Yield: 2.46%
• Average Volume (3M): 3.54M
• Price to Earnings (P/E): 13.2
• Beta (1Y): 1.24
• Revenue Growth: 13.68%
• EPS Growth: -6.57%
• Country: US
• Employees: 4,028
• Sector: Financial
• Sector Strength: 82
• Industry: Banks - Regional
• EPS (TTM): 0.45
• Shares Outstanding: 369,929,100
• 10 Day Avg. Volume: 3,681,678
• 30 Day Avg. Volume: 3,537,451
• PEG Ratio: 3.87
• Price to Book (P/B): 0.99
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.68
• Enterprise Value/Market Cap: 1.40
• Enterprise Value/Revenue: 1.02
• Enterprise Value/Gross Profit: 6.52
• Enterprise Value/Ebitda: 3.95
• 1Y Price Target: $25.75
• Price Target Upside: 13.14% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 75 Outperform
• Price Target: $23.50 ▲(3.25%Upside)

Old National Bancorp Capital presents a strong financial performance with stable growth prospects and efficient cost management. The recent merger with Bremer Financial and successful fundraising efforts enhance its market position and operational scale. Technical indicators suggest a balanced outlook, while valuation metrics favor potential undervaluation and income opportunities. The earnings call reflects confidence in strategic initiatives despite macroeconomic challenges. Overall, the stock is well-positioned for potential growth in the regional banking sector.

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 Capital generates revenue through a diversified model encompassing various financial services. Key revenue streams include interest income from loans and credit products offered to consumers and businesses, and non-interest income derived from fees and service charges on deposit accounts, wealth management services, and other banking operations. The company also earns income through its investment portfolio and treasury operations. Significant partnerships and community engagement initiatives help ONB expand its market reach and customer base, contributing to its earnings.

Old National Bancorp Capital Financial Statement Overview

Summary

Old National Bancorp shows strong revenue growth and operational efficiency with a zero-debt position, reflecting financial robustness. However, declining net profit margins and substantial investing cash outflows indicate areas needing attention.

Income Statement

Old National Bancorp has shown strong revenue growth, with a significant increase in total revenue from the previous year. The gross profit margin remained stable at 100% due to the nature of the banking industry. However, the net profit margin has slightly declined, pointing towards increased expenses or lower profitability. The EBIT margin is impressive at 96.9%, indicating efficient operational control.

Balance Sheet

The company maintains a solid equity base with a healthy equity ratio of 11.8%, reflecting financial stability. The debt-to-equity ratio is zero, emphasizing a debt-free position, which is a strong positive indicator. Return on equity is reasonable at 8.5%, but there is room for improvement.

Cash Flow

Operating cash flow has improved, and free cash flow shows positive growth. The operating cash flow to net income ratio is 1.15, indicating strong cash earnings. However, the large investing cash outflows could indicate potential risks if not managed well.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.01B	2.96B	2.54B	1.85B	853.03M	902.58M
Gross Profit	1.81B	1.77B	1.78B	1.58B	840.24M	792.49M
EBITDA	776.11M	746.07M	816.56M	607.03M	377.47M	298.56M
Net Income	563.56M	539.19M	581.99M	428.29M	277.54M	226.41M
Balance Sheet
Total Assets	53.88B	53.55B	49.09B	46.76B	24.45B	22.96B
Cash, Cash Equivalents and Short-Term Investments	8.99B	8.69B	7.89B	7.50B	8.20B	6.56B
Total Debt	5.45B	5.41B	5.33B	5.59B	2.65B	2.76B
Total Liabilities	47.34B	47.21B	43.53B	41.63B	21.44B	19.99B
Stockholders Equity	6.53B	6.34B	5.56B	5.13B	3.01B	2.97B
Cash Flow
Free Cash Flow	598.67M	592.01M	477.97M	776.52M	281.69M	188.95M
Operating Cash Flow	626.26M	622.28M	516.34M	814.42M	330.38M	219.82M
Investing Cash Flow	-876.38M	-1.37B	-1.82B	-1.69B	-1.43B	-2.14B
Financing Cash Flow	550.40M	802.59M	1.75B	777.48M	1.33B	2.24B

Old National Bancorp Capital Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.76
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 22.76 is above the 20-day moving average (MA) of 21.20, above the 50-day MA of 21.14, and above the 200-day MA of 20.96, indicating a bullish trend. The MACD of 0.33 indicates Negative momentum. The RSI at 69.10 is Neutral, neither overbought nor oversold. The STOCH value of 92.49 is Negative, 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
BOKF	77 Outperform	$6.62B	11.81	10.17%	2.21%	6.58%	26.56%
ZION	76 Outperform	$8.19B	10.81	13.06%	3.10%	4.84%	28.90%
ONB	75 Outperform	$8.42B	13.24	9.29%	2.46%	13.68%	-6.57%
PB	74 Outperform	$7.04B	14.11	6.83%	3.14%	9.02%	20.88%
BPOP	74 Outperform	$7.83B	11.80	12.54%	2.45%	9.33%	43.64%
SNV	73 Outperform	$7.66B	15.46	10.63%	2.83%	-1.56%	22.50%
Sector *	67 Neutral	¥718.51B	10.84	7.44%	3.36%	7.82%	15.26%

Old National Bancorp Capital Corporate Events

Old National Bancorp Completes Share Settlement, Raises $443M

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.

Old National Bancorp Capital’s 2025 Shareholder Meeting Outcomes

On May 14, 2025, Old National Bancorp Capital held its 2025 Annual Meeting of Shareholders, where shareholders voted on three key matters. All nominees for the Board of Directors were elected for a one-year term, the advisory proposal on executive compensation was approved, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

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.

Old National Bancorp Highlights Q1 2025 Performance

Old National Bancorp has released an investor presentation for the first quarter of 2025, highlighting its strategic objectives and financial performance. The company emphasizes the use of non-GAAP financial measures to provide a clearer picture of its operational performance, excluding items that do not pertain to core operations. The release also discusses the potential impacts of its merger with Bremer Financial Corporation, including risks related to integration and financial benefits.

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.

Old National Bancorp Declares Quarterly Cash Dividends

On May 14, 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 June 16, 2025, to shareholders recorded by June 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 August 20, 2025, to shareholders recorded by August 5, 2025. These dividends reflect the company’s ongoing commitment to providing shareholder value and may enhance its attractiveness to investors, reinforcing its strong market position.

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.

Old National Completes Merger with Bremer Financial

On May 1, 2025, Old National Bancorp completed its merger with Bremer Financial Corporation, significantly enhancing its market presence and operational scale. This merger, which included the integration of Bremer Bank into Old National Bank, positions Old National among the top 25 U.S. banking companies and increases its Community Growth Plan commitments to $11.1 billion. The merger also sees the addition of Daniel Reardon to the Old National Board of Directors, further strengthening its leadership team.