Old National Bancorp (ONB) Stock Price, News & Analysis

Company Overview

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, agricultural 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, and capital markets services, as well as community development lending and equity investment solutions. The company was founded in 1834 and is headquartered in Evansville, Indiana.

Key Stats

• Today's Range: $21.06 to $22.01
• 50-Day Range: $17.94 to $22.41
• 52-Week Range: $14.32 to $22.75
• Volume: 4.16 million shs
• Average Volume: 2.64 million shs
• Market Capitalization: $6.77 billion
• P/E Ratio: 12.87
• Dividend Yield: 2.64%
• Price Target: $20.43
• Consensus Rating: Moderate Buy

Old National Bancorp Stock Analysis - MarketRank™

Old National Bancorp scored higher than 78% of companies evaluated by MarketBeat, and ranked 317th out of 963 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Old National Bancorp has received a consensus rating of Moderate Buy. The company's average rating score is 2.86, and is based on 6 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Old National Bancorp has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 5.43%

Earnings Growth

Earnings for Old National Bancorp are expected to grow by 5.43% in the coming year, from $1.84 to $1.94 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Old National Bancorp is 12.87, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 120.61.

Price to Earnings Ratio vs. Sector

The P/E ratio of Old National Bancorp is 12.87, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 28.42.

Price to Book Value per Share Ratio

Old National Bancorp has a P/B Ratio of 1.10. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

2.97% of the outstanding shares of Old National Bancorp have been sold short.

Short Interest Ratio / Days to Cover

Old National Bancorp has a short interest ratio ("days to cover") of 5.1.

Change versus previous month

Short interest in Old National Bancorp has recently increased by 7.38%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Old National Bancorp pays a meaningful dividend of 2.64%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Old National Bancorp does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Old National Bancorp is 33.94%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Old National Bancorp will have a dividend payout ratio of 28.87% next year. This indicates that Old National Bancorp will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 3.4 / 5
• Environmental Score: -0.45

Percentage of Shares Shorted

2.97% of the outstanding shares of Old National Bancorp have been sold short.

Short Interest Ratio / Days to Cover

Old National Bancorp has a short interest ratio ("days to cover") of 5.1.

Change versus previous month

Short interest in Old National Bancorp has recently increased by 7.38%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 1.30

News Sentiment

Old National Bancorp has a news sentiment score of 1.30. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.67 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 7 news articles for Old National Bancorp this week, compared to 5 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Old National Bancorp insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.07% of the stock of Old National Bancorp is held by insiders.

Percentage Held by Institutions

83.66% of the stock of Old National Bancorp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

ONB Stock Analysis - Frequently Asked Questions

How have ONB shares performed this year?

Old National Bancorp's stock was trading at $16.89 at the start of the year. Since then, ONB shares have increased by 25.7% and is now trading at $21.23.
View the best growth stocks for 2024 here.

How were Old National Bancorp's earnings last quarter?

Old National Bancorp (NASDAQ:ONB) announced its quarterly earnings data on Tuesday, October, 22nd. The bank reported $0.46 earnings per share for the quarter, meeting analysts' consensus estimates of $0.46. The business's quarterly revenue was up 6.5% compared to the same quarter last year.

Who are Old National Bancorp's major shareholders?

Old National Bancorp's top institutional investors include State Street Corp (4.64%), Geode Capital Management LLC (2.61%), Victory Capital Management Inc. (2.27%) and Verition Fund Management LLC (1.32%). Insiders that own company stock include James C Ryan III, Mark G Sander, James A Sandgren, Michael L Scudder, Kendra L Vanzo, Brendon B Falconer, Chady M Alahmar and John V Moran.
View institutional ownership trends.

How do I buy shares of Old National Bancorp?

Shares of ONB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Old National Bancorp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Old National Bancorp investors own include American Water Works (AWK), Humana (HUM), Waste Connections (WCN), The RMR Group (RMR), DiamondRock Hospitality (DRH), Voyager Therapeutics (VYGR) and AUO (AUOTY).

Company Calendar

• Ex-Dividend for 9/16 Dividend: 9/05/2024
• Dividend Payable: 9/16/2024
• Last Earnings: 10/22/2024
• Today: 11/16/2024
• Ex-Dividend for 12/16 Dividend: 12/05/2024
• Dividend Payable: 12/16/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/28/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: National commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NASDAQ:ONB
• CUSIP: 68003310
• CIK: 707179
• Web: www.oldnational.com
• Phone: (800) 731-2265
• Fax: 812-464-1567
• Employees: 3,940
• Year Founded: 1841

Price Target and Rating

• Average Stock Price Target: $20.43
• High Stock Price Target: $24.00
• Low Stock Price Target: $17.00
• Potential Upside/Downside: -3.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.86
• Research Coverage: 7 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.65
• Trailing P/E Ratio: 12.87
• Forward P/E Ratio: 11.54
• P/E Growth: N/A
• Net Income: $581.99 million
• Net Margins: 17.93%
• Pretax Margin: 22.95%
• Return on Equity: 10.10%
• Return on Assets: 1.12%

Debt

• Debt-to-Equity Ratio: 0.83
• Current Ratio: 0.92
• Quick Ratio: 0.92

Sales & Book Value

• Annual Sales: $1.86 billion
• Price / Sales: 3.64
• Cash Flow: $2.22 per share
• Price / Cash Flow: 9.57
• Book Value: $19.24 per share
• Price / Book: 1.10

Miscellaneous

• Outstanding Shares: 318,972,000
• Free Float: 315,559,000
• Market Cap: $6.77 billion
• Optionable: Optionable
• Beta: 0.82