ONB Stock Analysis: Old National Bancorp | NASDAQ
Banks - Regional | NASDAQ, USA | Market Cap: 10.156m USD | 12M Return: 20.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 107M
EPS Trend: 17.2%
Qual. Beats: 3
Rev. Trend: 98.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 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: 758.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.08 > 1.0 |
| NWC/Revenue: -1.35k% < 20% (prev -1.08k%; Δ -274.1% < -1%) |
| CFO/TA 0.01 > 3% & CFO 779.4m > Net Income 758.3m |
| Net Debt (5.48b) to EBITDA (1.11b): 4.92 < 3 |
| Current Ratio: 0.04 > 1.5 & < 3 |
| Outstanding Shares: last quarter (388.1m) vs 12m ago 20.88% < -2% |
| Gross Margin: 64.47% > 18% (prev 60.19%; Δ 4.29% > 0.5%) |
| Asset Turnover: 6.28% > 50% (prev 5.58%; Δ 0.70% > 0%) |
| Interest Coverage Ratio: 0.78 > 6 (EBIT TTM 987.8m / Interest Expense TTM 1.27b) |
| A: -0.74 (Total Current Assets 2.37b - Total Current Liabilities 56.1b) / Total Assets 73.0b |
| B: 0.04 (Retained Earnings 2.58b / Total Assets 73.0b) |
| C: 0.02 (EBIT TTM 987.8m / Avg Total Assets 63.4b) |
| D: 0.13 (Book Value of Equity 8.51b / Total Liabilities 64.5b) |
| Altman-Z'' = -4.47 = D |
As of July 08, 2026, the stock is trading at USD 26.43 with a total of 3,562,494 shares traded. Over the past week, the price has changed by +2.44%, over one month by +11.10%, over three months by +18.85% and over the past year by +20.70%.
Current recommended Stop Loss: 25.70 (which is 2.8% or 1.4 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 | 28.2 | 6.7% |
P/E Trailing = 13.549
P/E Forward = 9.9206
P/S = 4.0513
P/B = 1.2132
P/EG = 1.5933
Revenue TTM = 3.99b USD
EBIT TTM = 987.8m USD
EBITDA TTM = 1.11b USD
Long Term Debt = 7.34b USD (from longTermDebt, last quarter)
Short Term Debt = 465.1m USD (from shortTermDebt, last quarter)
Debt = 7.85b USD (from shortLongTermDebtTotal, last quarter) + Leases 22.4m
Net Debt = 5.48b USD (calculated: Debt 7.85b - CCE 2.37b)
Enterprise Value = 15.6b USD (10.2b + Debt 7.85b - CCE 2.37b)
Interest Coverage Ratio = 0.78 (Ebit TTM 987.8m / Interest Expense TTM 1.27b)
EV/FCF = 20.83x (Enterprise Value 15.6b / FCF TTM 750.4m)
FCF Yield = 4.80% (FCF TTM 750.4m / Enterprise Value 15.6b)
FCF Margin = 18.83% (FCF TTM 750.4m / Revenue TTM 3.99b)
Net Margin = 19.03% (Net Income TTM 758.3m / Revenue TTM 3.99b)
Gross Margin = 64.47% ((Revenue TTM 3.99b - Cost of Revenue TTM 1.42b) / Revenue TTM)
Gross Margin QoQ = 66.01% (prev 68.57%)
Tobins Q-Ratio = 0.21 (Enterprise Value 15.6b / Total Assets 73.0b)
Interest Expense / Debt = 16.24% (Interest Expense 1.27b / Debt 7.85b)
Taxrate = 20.61% (196.8m / 955.1m)
NOPAT = 784.3m (EBIT 987.8m * (1 - 20.61%))
Current Ratio = 0.04 (Total Current Assets 2.37b / Total Current Liabilities 56.1b)
Debt / Equity = 0.92 (Debt 7.85b / totalStockholderEquity, last quarter 8.51b)
Debt / EBITDA = 4.92 (Net Debt 5.48b / EBITDA 1.11b)
Debt / FCF = 7.30 (Net Debt 5.48b / FCF TTM 750.4m)
Total Stockholder Equity = 8.36b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.20% (Net Income 758.3m / Total Assets 73.0b)
RoE = 9.07% (Net Income TTM 758.3m / Total Stockholder Equity 8.36b)
RoCE = 6.29% (EBIT 987.8m / Capital Employed (Equity 8.36b + L.T.Debt 7.34b))
RoIC = 4.58% (NOPAT 784.3m / Invested Capital 17.1b)
WACC = 11.05% (E(10.2b)/V(18.0b) * Re(9.62%) + D(7.85b)/V(18.0b) * Rd(16.24%) * (1-Tc(0.21)))
Discount Rate = 9.62% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 13.47%
[DCF] Terminal Value 69.76% ; FCFF base≈689.7m ; Y1≈790.7m ; Y5≈1.16b
[DCF] Fair Price = 16.49 (EV 11.8b - Net Debt 5.48b = Equity 6.37b / Shares 386.4m; r=11.05% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 17.24 | EPS CAGR: 1.53% | SUE: 0.94 | # QB: 3
Revenue Correlation: 98.74 | Revenue CAGR: 20.08% | SUE: 0.76 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.63 | Chg30d=-0.17% | Revisions=-25% | Analysts=10
EPS next Quarter (2026-09-30): EPS=0.67 | Chg30d=-0.28% | Revisions=-40% | Analysts=10
EPS current Year (2026-12-31): EPS=2.61 | Chg30d=-0.18% | Revisions=-25% | GrowthEPS=+18.1% | GrowthRev=+13.8%
EPS next Year (2027-12-31): EPS=2.91 | Chg30d=-0.02% | Revisions=+0% | GrowthEPS=+11.3% | GrowthRev=+5.4%
[Analyst] Revisions Ratio: -44% (up=1, down=5)