Old National Bancorp (ONB) AI Stock Analysis

Old National Bancorp operates as the bank holding company for Old National Bank, delivering financial services to individual and commercial customers. Founded in 1834, the company offers deposit accounts such as checking, savings, money market, and time deposits. Lending products include residential real estate loans, home equity lines of credit, consumer loans, and commercial financing solutions. In addition to electronic and mobile banking services, it provides cash management, private banking, brokerage, trust, and wealth management services. As of December 31, 2021, the company operated 162 banking centers across Indiana, Kentucky, Michigan, Minnesota, and Wisconsin.

Revenue grew from $852.9M in FY2021 to $1.85B in FY2022, $2.54B in FY2023, $2.96B in FY2024, and reached $3.71B in FY2025, reflecting a 5-year revenue CAGR of 32.7%. Net income rose from $277.5M in FY2021 to $669.3M in FY2025, with EPS increasing from $1.73 to $2.19 over the period. Operating margin was 23.6% in FY2025 compared to 39.7% in FY2021. Over the trailing twelve months, revenue totaled $2.66B with an operating margin of 52.5% and a profit margin of 33.3%. In the latest quarter ended June 30, 2026, quarterly revenue grew 28.8% year-over-year while quarterly earnings grew 92.9%.

As of June 30, 2026, Old National Bancorp held $16.33B in cash and short-term investments alongside total debt of $8.42B, resulting in net cash of $7.90B. Shareholders' equity was $8.58B against total assets of $74.19B, with a debt-to-equity ratio of 0.98 and a current ratio of 0.33. For FY2025, operating cash flow stood at $681.5M and free cash flow was $637.4M. Capital deployment in FY2025 included $44.1M in capital expenditures, $71.8M for share buybacks, and $225.1M in dividends paid.

At a last close of $25.01, Old National Bancorp carries a market cap of $9.57B and an enterprise value of $16.79B. The stock trades at a trailing P/E of 11.1x and a forward P/E of 8.4x, both lower than the median of its US-listed Financial Services peers at 12.1x and 10.8x, respectively. Its price-to-sales multiple is 3.6x compared to the peer median of 3.2x, while price-to-book sits at 1.1x. Over the past year, ONB gained 31.5%, outperforming the S&P 500 (SPY) return of 16.8%, but its 5-year return of 71.7% trailed SPY at 83.0%.

Old National Bancorp has paid consecutive dividends for 42 years. It offers an annual forward dividend of $0.58 per share, yielding 2.32% with a payout ratio of 23.5%. The dividend is distributed on a quarterly frequency, with the last ex-dividend date on September 4, 2026. The 5-year annualized dividend growth rate is 0.0%, and total dividends paid in FY2025 were $225.1M.

Wall Street coverage includes 7 Strong Buy, 5 Buy, and 3 Hold ratings, with no Sell or Strong Sell recommendations. The mean price target is $29.53, implying an 18.1% upside compared to the last close of $25.01. For the current fiscal year ending December 31, 2026, consensus estimates project EPS of $2.61 and revenue of $2.91B. Old National Bancorp beat EPS estimates in each of the last 4 quarters, and its next earnings date is October 21, 2026.

This page is an AI-written research summary of Old National Bancorp (ONB). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: ONB income statement, ONB balance sheet, ONB key metrics, ONB analyst forecast, ONB chart. See the ONB stock overview for the latest quote and news.