Old National Bancorp (NASDAQ:ONB) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Old National Bancorp has an average analyst rating of “Moderate Buy”, with 9 of 12 research firms recommending the stock and an average 1-year price target of about $28.73.
• The company posted record second-quarter results, reporting net income of $249.4 million and EPS of $0.65, both above Wall Street estimates.
• Revenue also beat expectations at $726.86 million versus the consensus $716.23 million, while shares were trading near $26.39, close to the stock’s 52-week high.

Old National Bancorp (NASDAQ:ONB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $28.7273.

Several research analysts recently weighed in on ONB shares. Jefferies Financial Group restated a "hold" rating and set a $27.00 target price on shares of Old National Bancorp in a research note on Wednesday. Truist Financial raised their price target on Old National Bancorp from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. UBS Group initiated coverage on shares of Old National Bancorp in a report on Tuesday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Old National Bancorp from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Finally, Barclays boosted their price objective on shares of Old National Bancorp from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th.

Key Old National Bancorp News

Here are the key news stories impacting Old National Bancorp this week:

• Positive Sentiment: Old National Bancorp reported record second-quarter results, with net income applicable to common shares of $249.4 million and diluted EPS of $0.65, supported by strong adjusted results as well. Old National Bancorp Reports Record Second Quarter 2026 Results; Announces Enhanced Executive Leadership Structure
• Positive Sentiment: Revenue came in above expectations at $726.86 million versus the $716.23 million consensus, reinforcing the view that core banking performance remains solid. Old National Bancorp earnings report and conference call
• Positive Sentiment: EPS beat estimates at $0.65 versus the $0.62-$0.63 range cited by analysts, and also improved from $0.53 in the same quarter last year, suggesting earnings momentum. Old National Bancorp surpasses Q2 earnings and revenue estimates
• Neutral Sentiment: Analysts and market commentary are focusing on whether the bank can sustain this outperformance, but no major new negative catalyst was highlighted in the latest updates. Old National Bancorp Continues To Grind Out Gains

Institutional Investors Weigh In On Old National Bancorp

A number of large investors have recently bought and sold shares of ONB. Comerica Bank boosted its stake in shares of Old National Bancorp by 27.8% in the fourth quarter. Comerica Bank now owns 263,057 shares of the bank's stock worth $5,869,000 after buying an additional 57,152 shares during the last quarter. Algebris UK Ltd. grew its holdings in Old National Bancorp by 57.9% during the fourth quarter. Algebris UK Ltd. now owns 1,844,036 shares of the bank's stock worth $41,160,000 after acquiring an additional 675,873 shares during the period. Ruffer LLP purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $2,871,000. SG Americas Securities LLC purchased a new position in Old National Bancorp during the fourth quarter valued at approximately $22,495,000. Finally, Norges Bank acquired a new position in Old National Bancorp in the fourth quarter valued at approximately $72,661,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Old National Bancorp Stock Up 0.8%

Shares of Old National Bancorp stock opened at $26.39 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.89. The company has a market cap of $10.20 billion, a P/E ratio of 13.60 and a beta of 0.83. The firm's 50 day moving average price is $25.02 and its 200-day moving average price is $23.99. Old National Bancorp has a 52-week low of $19.39 and a 52-week high of $27.32.

Old National Bancorp (NASDAQ:ONB - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $726.86 million during the quarter, compared to analysts' expectations of $716.25 million. Old National Bancorp had a net margin of 18.90% and a return on equity of 11.23%. Old National Bancorp's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, sell-side analysts predict that Old National Bancorp will post 2.57 EPS for the current fiscal year.

Old National Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.145 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.2%. Old National Bancorp's dividend payout ratio is currently 29.90%.

Old National Bancorp Company Profile

Old National Bancorp NASDAQ: ONB is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.

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