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Old National Bancorp

Old National Bancorp

ONB
$25.66USD↑+0.23%+0.06 today

MARKET CAP

9.8B

P/E (TTM)

13.2x

FWD P/E

—

DAY RANGE

$25 – $26

52W RANGE

$19
$27

AI Summary

Stalk
TrimMedium

ONB is showing early distribution after a blow-off top, with price now below the 9 EMA and retesting the 21 EMA as resistance amid overbought conditions. Despite the long-term uptrend, the medium-term bias turns bearish and mean-reversion entries are not permitted. Execution will be deferred until a clear rejection at the EMA zone confirms sustained selling pressure.

  • ↑Q2 adjusted EPS hit $0.65 with ROE of 20%.
  • ↑Loans rose $1 billion (8% annualized), backed by record pipelines.
  • ↓Profitability factor remains weak, hindering revenue-to-profit conversion.
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The case for & against

Bull & Bear analysis

Bullish

Old National Bancorp (NASDAQ:ONB) is a leading community bank primarily engaged in commercial banking, retail banking, and wealth management in the Midwest. The bank has made significant strides in expanding its balance sheet, particularly through its recent acquisition of Bremer Bank, which has enhanced its capital position and loan growth potential. Old National is well-positioned within the evolving financial services landscape, focusing on organic growth, prudent credit quality management, and diversified fee income generation while maintaining a steady commitment to shareholder returns.

Bull says

  • ↑Q2 adjusted EPS hit $0.65 with ROE of 20%.
  • ↑Loans rose $1 billion (8% annualized), backed by record pipelines.
  • ↑Returned $163 m via dividends and buybacks, reflecting disciplined capital allocation.
  • ↑Fee income diversification in wealth management and capital markets boosts stability.
  • ↑Non-accrual loans fell 10% with net charge-offs at 26 bps, underscoring credit quality.
  • ↑High earnings yield and solid book-to-price ratio support valuation.

Bear says

  • ↓Profitability factor remains weak, hindering revenue-to-profit conversion.
  • ↓Analyst earnings revisions have trended negative, tempering growth outlook.
  • ↓Limited institutional interest suggests skepticism around strategic execution.
  • ↓Competitive deposit market may compress net interest margins going forward.
  • ↓Valuation appears stretched relative to growth expectations, raising downside risk.
  • ↓Moderate growth factor implies limited upside if macro headwinds intensify.

Investment themes with ONB

High Dividend Yield↓ -0.51%

Companies paying above-average dividends

AVGO · JPM · XOM
Regional Banks↓ -1.16%

FLG · TCBI · ZION

Earnings Call · Q1 2024 · Mgmt. Guidance

Updated 04-23-2025bullish

Transcript signals

Bull points

  • Our first quarter deposit growth has again allowed us to organically fund loan growth while holding our borrowings and brokered deposits consistent.
  • Over the last year, we have grown deposits 8%, 200 basis points faster than our 6% year-over-year loan growth, while increasing tangible book value 11%.
  • Total loans grew 7.5% annualized from last quarter, slightly above our expectations.

Bear points

  • We did experience upward pressure on deposit rates over the course of the quarter, as we remained focused on better than industry growth in our deposit base.
  • the addition of CapStar is expected to increase our total deposit costs by approximately five basis points in the second quarter.
Read full transcript analysis ›