ONB Stock Analysis: Old National Bancorp | NASDAQ
Banks - Regional | NASDAQ, USA | Market Cap: 9.465m USD | 12M Return: 20.2% | US6800331075 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 96.6M
EPS Trend: 53.6%
Qual. Beats: 4
Rev. Trend: 98.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Old National Bancorp (NASDAQ: ONB) is a U.S. bank holding company headquartered in Evansville, Indiana, that operates through Old National Bank to deliver consumer and commercial banking services. Its core offerings include a range of deposit products (checking, savings, money market, and time deposits) and lending solutions spanning home equity, residential real estate, consumer loans, commercial loans, commercial real estate loans, agricultural loans, letters of credit, and lease financing.
Beyond traditional banking, the company provides debit and ATM cards, telephone and online access, and mobile banking capabilities. It also offers wealth-oriented services such as private banking, trust and investment advisory, brokerage, and foreign currency exchange, alongside business-focused solutions including treasury management, merchant services, capital markets, and community development lending and equity investments. The company was founded in 1834.
As a mid-cap regional bank in the Financials sector, Old National operates under a community banking business model that emphasizes relationship-driven lending and deposit gathering within defined geographic markets rather than the nationwide footprint of money-center banks. Regional banks like ONB are typically regulated at the holding-company level by the Federal Reserve and often derive a meaningful share of revenue from net interest income, making loan portfolio mix and asset quality central to performance.
- Net interest margin expands on loan repricing and Fed rate hikes
- Commercial real estate loan portfolio faces credit quality scrutiny
- First Midwest merger integration drives cost synergies and fee income growth
| Net Income: 886.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.60 > 1.0 |
| NWC/Revenue: -937.1% < 20% (prev -1.65k%; Δ 708.4% < -1%) |
| CFO/TA 0.01 > 3% & CFO 986.8m > Net Income 886.3m |
| Net Debt (-7.88b) to EBITDA (1.29b): -6.09 < 3 |
| Current Ratio: 0.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (385.7m) vs 12m ago 13.36% < -2% |
| Gross Margin: 66.80% > 18% (prev 59.46%; Δ 7.34% > 0.5%) |
| Asset Turnover: 5.56% > 50% (prev 4.53%; Δ 1.03% > 0%) |
| Interest Coverage Ratio: 0.90 > 6 (EBIT TTM 1.16b / Interest Expense TTM 1.28b) |
| A: -0.51 (Total Current Assets 18.9b - Total Current Liabilities 56.7b) / Total Assets 74.2b |
| B: 0.04 (Retained Earnings 2.78b / Total Assets 74.2b) |
| C: 0.02 (EBIT TTM 1.16b / Avg Total Assets 72.6b) |
| D: 0.13 (Book Value of Equity 8.58b / Total Liabilities 65.6b) |
| Altman-Z'' = -2.97 = D |
As of September 27, 2026, the stock is trading at USD 25.49 with a total of 4,198,330 shares traded. Over the past week, the price has changed by +0.87%, over one month by -0.11%, over three months by -0.95% and over the past year by +20.18%.
Current recommended Stop Loss: 24.70 (which is 3.1% or 1.7 ATR below the current price).
Old National Bancorp has received a consensus analysts rating of 4.18. Therefore, it is recommended to buy ONB.
- StrongBuy: 5
- Buy: 3
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 30.1 | 18% |
P/E Trailing = 10.9469
P/E Forward = 8.4818
P/S = 3.5573
P/B = 1.1463
P/EG = 1.5933
Revenue TTM = 4.03b USD
EBIT TTM = 1.16b USD
EBITDA TTM = 1.29b USD
Long Term Debt = 7.89b USD (from longTermDebt, last quarter)
Short Term Debt = 515.7m USD (from shortTermDebt, last quarter)
Debt = 8.44b USD (from shortLongTermDebtTotal, last quarter) + Leases 20.3m
Net Debt = -7.88b USD (calculated: Debt 8.44b - CCE 16.3b)
Enterprise Value = 1.58b USD (9.46b + Debt 8.44b - CCE 16.3b)
Interest Coverage Ratio = 0.90 (Ebit TTM 1.16b / Interest Expense TTM 1.28b)
EV/FCF = 1.62x (Enterprise Value 1.58b / FCF TTM 979.5m)
FCF Yield = 61.88% (FCF TTM 979.5m / Enterprise Value 1.58b)
FCF Margin = 24.29% (FCF TTM 979.5m / Revenue TTM 4.03b)
Net Margin = 21.98% (Net Income TTM 886.3m / Revenue TTM 4.03b)
Gross Margin = 66.80% ((Revenue TTM 4.03b - Cost of Revenue TTM 1.34b) / Revenue TTM)
Gross Margin QoQ = 66.18% (prev 66.01%)
Tobins Q-Ratio = 0.02 (Enterprise Value 1.58b / Total Assets 74.2b)
Interest Expense / Debt = 15.15% (Interest Expense 1.28b / Debt 8.44b)
Taxrate = 21.12% (237.3m / 1.12b)
NOPAT = 912.1m (EBIT 1.16b * (1 - 21.12%))
Current Ratio = 0.33 (Total Current Assets 18.9b / Total Current Liabilities 56.7b)
Debt / Equity = 0.98 (Debt 8.44b / totalStockholderEquity, last quarter 8.58b)
Debt / EBITDA = -6.09 (Net Debt -7.88b / EBITDA 1.29b)
Debt / FCF = -8.05 (Net Debt -7.88b / FCF TTM 979.5m)
Total Stockholder Equity = 8.47b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.22% (Net Income 886.3m / Total Assets 74.2b)
RoE = 10.46% (Net Income TTM 886.3m / Total Stockholder Equity 8.47b)
RoCE = 7.07% (EBIT 1.16b / Capital Employed (Equity 8.47b + L.T.Debt 7.89b))
RoIC = 5.11% (NOPAT 912.1m / Invested Capital 17.8b)
WACC = 10.61% (E(9.46b)/V(17.9b) * Re(9.41%) + D(8.44b)/V(17.9b) * Rd(15.15%) * (1-Tc(0.21)))
Discount Rate = 9.41% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.44 | Cagr: 13.13%
[DCF] Terminal Value 71.03% ; FCFF base≈792.1m ; Y1≈908.1m ; Y5≈1.34b
[DCF] Fair Price = 58.16 (EV 14.4b - Net Debt -7.88b = Equity 22.3b / Shares 382.6m; r=10.61% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 53.61 | EPS CAGR: 5.97% | SUE: 2.66 | # QB: 4
Revenue Correlation: 98.76 | Revenue CAGR: 20.34% | SUE: 0.76 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.67 | Chg30d=+0.39% | Revisions=-30% | Analysts=14
EPS current Year (2026-12-31): EPS=2.61 | Chg30d=+0.19% | Revisions=+10% | GrowthEPS=+18.2% | GrowthRev=+14.1%
EPS next Year (2027-12-31): EPS=2.89 | Chg30d=+0.02% | Revisions=-10% | GrowthEPS=+10.7% | GrowthRev=+5.3%
[Analyst] Revisions Ratio: -12% (up=9, down=12)