A Business at a Glance
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OLD NATIONAL BANCORP /IN/
ONB
$9.7B
Mkt Cap
$26.49
+1.46%
OLD NATIONAL BANCORP /IN/ (ONB) has a current P/E ratio of 14.8, compared to its historical median P/E of 10.9. The stock is currently considered Expensive based on its historical valuation range.
OLD NATIONAL BANCORP /IN/ (ONB) has a 5-year average return on invested capital (ROIC) of 9.5%. This is below average and may indicate limited pricing power.
OLD NATIONAL BANCORP /IN/ (ONB) has a market capitalization of $10.2B. It is classified as a large-cap stock.
Yes, OLD NATIONAL BANCORP /IN/ (ONB) pays a dividend with a trailing twelve-month yield of 2.31%. The company also returns capital through share buybacks, with a buyback yield of 1.59%.
Based on historical P/E analysis, OLD NATIONAL BANCORP /IN/ (ONB) appears expensive. The current P/E of 14.8 is 36% above its historical median of 10.9. The estimated fair value CAGR (P/E method) is 6.7%.
OLD NATIONAL BANCORP /IN/ (ONB) operates in the National Commercial Banks industry, within the Financials sector.
Old National Bancorp is the sixth largest Midwestern-headquartered bank by asset size with consolidated assets of $72.2 billion, operating 346 banking centers primarily throughout the Midwest and Southeast regions of the United States. The company earns interest income on loans and fee income from loan origination and service provision, offering a comprehensive suite of products including commercial, real estate, and consumer loans; deposit accounts; and wealth management, trust, investment advisory, brokerage, and capital markets services. The bank serves individuals and commercial clients through community banking operations, with lending activities encompassing residential real estate loans (either retained or sold to secondary investors), commercial loans, commercial real estate loans, agricultural loans, and lease financing, while deposit products include noninterest-bearing demand, interest-bearing checking and NOW accounts, savings and money market accounts, and time deposits. Distribution occurs through its 346 banking centers and digital channels including 24-hour telephone access, online banking, and mobile banking services, supported by 4,971 full-time equivalent team members. The company's competitive positioning is built on disciplined integration capabilities, demonstrated through successful acquisitions such as Bremer, and a focus on long-term client partnerships in community and commercial banking across its Midwest and Southeast footprint.
【Strong momentum into 2026】 Management expects full-year loan growth of 4%-6%, with confidence that results may trend toward the higher end of this range based on first-quarter performance and record loan pipelines. The company anticipates continued success in deposit strategy execution, expecting to meet or exceed industry growth in 2026 generally in line with asset growth, while maintaining a neutral balance sheet position to short-term interest rates. Fee businesses are expected to perform well supported by a robust loan pipeline driving capital markets activity and continued momentum in wealth management and brokerage, with management believing the company would trend toward the higher end of full-year fee income guidance. The company expects full-year results yielding 15%+ growth in earnings per share with positive operating leverage, peer-leading profitability, controlled expenses, and normalized credit, while maintaining unchanged net interest income guidance despite first-quarter outperformance.
| Metric | Target | Period |
|---|---|---|
| Loan growth | 4%-6% | Full year 2026 |
| Earnings per share growth | 15%+ | Full year 2026 |
Loan growth (Full year 2026): “We believe our current pipeline supports full-year loan growth of 4%-6%”
Earnings per share growth (Full year 2026): “you'll note that we expect full-year results that yield 15%+ growth in earnings per share”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.7B | 3.7B | 3.0B | 2.5B | 1.9B | 853M |
| Net Income | 742M | 653M | 523M | 566M | 414M | 278M |
| EPS | $1.91 | $1.79 | $1.68 | $1.94 | $1.50 | $0.84 |
| Free Cash Flow | 728M | 637M | 592M | 478M | 777M | 282M |
| ROIC | 8.7% | 8.8% | 8.7% | 10.5% | 10.1% | 9.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.03 | 0.04 | 0.05 | 0.07 | 0.09 | 0.13 |
| Dividends/Share | $0.61 | $0.56 | $0.56 | $0.56 | $0.56 | $0.28 |
| Operating Income | 69M | 70M | 49M | 40M | 32M | 14M |
| Operating Margin | 2.5% | 1.9% | 1.7% | 1.6% | 1.7% | 1.7% |
| ROE | 8.7% | 8.8% | 8.8% | 10.6% | 10.2% | 9.3% |
| Shares Outstanding | 386M | 365M | 311M | 292M | 276M | 332M |
OLD NATIONAL BANCORP /IN/ passes 4 of 9 quality checks, suggesting mixed fundamentals.
OLD NATIONAL BANCORP /IN/ trades at 14.8x trailing earnings, compared to its 15-year median P/E of 10.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 16.2x vs a median of 18.1x. The company's 5-year average ROIC is 9.5%. Total shareholder yield (dividends + buybacks) is 3.9%. At current prices, the estimated annualized return to fair value is +6.8%.
OLD NATIONAL BANCORP /IN/ (ONB) reported annual revenue of $3.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
OLD NATIONAL BANCORP /IN/ (ONB) has a net profit margin of 17.5%. This is a healthy margin.
OLD NATIONAL BANCORP /IN/ (ONB) generated $637 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
OLD NATIONAL BANCORP /IN/ (ONB) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
OLD NATIONAL BANCORP /IN/ (ONB) reported earnings per share (EPS) of $1.79 in its most recent fiscal year.
OLD NATIONAL BANCORP /IN/ (ONB) has a return on equity (ROE) of 8.8%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for OLD NATIONAL BANCORP /IN/ (ONB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
OLD NATIONAL BANCORP /IN/ (ONB) has a book value per share of $23.28, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects full-year loan growth of 4%-6%, with confidence that results may trend toward the higher end of this range based on first-quarter performance and record loan pipelines. The company anticipates continued success in deposit strategy execution, expecting to meet or exceed industry growth in 2026 generally in line with asset growth, while maintaining a neutral balance sheet position to short-term interest rates. Fee businesses are expected to perform well supported by a robust loan pipeline driving capital markets activity and continued momentum in wealth management and brokerage, with management believing the company would trend toward the higher end of full-year fee income guidance. The company expects full-year results yielding 15%+ growth in earnings per share with positive operating leverage, peer-leading profitability, controlled expenses, and normalized credit, while maintaining unchanged net interest income guidance despite first-quarter outperformance.
Based on recent SEC filings and earnings calls, OLD NATIONAL BANCORP /IN/ (ONB) has provided the following forward guidance: Loan growth: 4%-6% (Full year 2026); Earnings per share growth: 15%+ (Full year 2026).
No recent press releases.