Old National Bancorp ONB
United StatesFinancial Services · Banks - RegionalUSD
29.60 USD (+21.2%)
15 analysts
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Old National Bancorp is a US regional bank offering commercial and consumer banking services, wealth management, and investment banking solutions through its branch network in the Midwest.
Key points
from its scores- ✓High-quality business9.5
- ✓Strong growth9.5
- ✓Favourable backdrop7.0
- ✕Fragile balance sheet4.4
AI analysis
bottom line, main risk, context and newsHold or buy on pullbacks, given the solid profitability and valuation profile, while monitoring the sustainability of earnings growth.
Old National Bancorp presents solid financial health (ROE 10.61%, ROA 1.22%) and exceptional moat quality (operating margin 52.54%), with very strong growth (earnings +92.90%) which, combined with an attractive valuation (P/E 10.81), suggests an interesting investment opportunity in the regional banking sector.
The main risk is the sustainability of earnings growth (+92.90%), which could be inflated by non-recurring items or acquisitions, and the sensitivity of the net interest margin to changes in the yield curve.
Context and risks
No specific regulatory, geopolitical, or business model risks are identified beyond those inherent to the US regional banking sector. The company shows no material exposure to current macro factors (rates, energy, shipping routes) that is not already covered by its business profile.
Is Old National Bancorp stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 30% below the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 10.8 | 13.7 | −21% |
| Price / book | 1.1 | 1.9 | −40% |
| Price / sales | 3.5 | 3.5 | +2% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.5 out of 10 (median for Financial Services: 5.2).
Average analyst target: 29.60 USD, +21.2% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 4.4 (sector 5.5), Growth 9.5 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 10.8
- Forward P/E
- 8.4
- Price / book
- 1.1
- Price / sales
- 3.5
- PEG
- 1.59
- Market cap
- 9.3B USD
- Enterprise value
- 16.6B USD
Profitability
- ROE
- 10.6%
- ROA
- 1.2%
- ROIC (approx.)
- 8.1%
- Gross margin
- 0.0%
- Operating margin
- 52.5%
- Net margin
- 33.3%
Solvency
- Total debt
- 8.9B USD
- Net debt
- 7.0B USD
- Cash
- 1.9B USD
Growth
- Revenue growth
- +28.8%
- Earnings growth
- +92.9%
- EPS (TTM)
- 2.26 USD
- EPS (forward)
- 2.89 USD
Dividend
- Dividend yield
- 2.4%
- Payout
- 25.2%
Risk and market
- Beta
- 0.86
- Analyst consensus
- Buy (15)
- Target price
- 29.60 USD
- 52-week range
- 19.39 – 27.36
Recent news
All ONB news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Old National Bancorp
Is Old National Bancorp stock cheap or expensive?
On P/E and Price / book, it trades 30% below the Financial Services median on average. Valuation score: 6.5 out of 10 (median for Financial Services: 5.2). Average analyst target: 29.60 USD, +21.2% versus the price. This is not investment advice.
What score does Old National Bancorp get on MeridIAn Screener?
It scores 6.9 out of 10, rank 276 of 2,130 (better than 86% of the companies analysed). Its strongest category is Quality / Moat (9.5) and its weakest, Financial health (4.4). Analysis of 08/10/2026.
What is Old National Bancorp's P/E ratio?
Its P/E is 10.8: the share price equals 10.8 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 8.4.
How much is Old National Bancorp worth on the stock market?
Its market capitalisation is 9.3B USD.
Does Old National Bancorp pay a dividend?
Yes: its dividend yield is 2.38% and it pays out 25% of its earnings.
How has Old National Bancorp stock performed over the last year?
It has risen 21.4% over the last year, excluding dividends. Over the last 52 weeks it has traded between 19.39 and 27.36 USD. Past performance does not guarantee future results.
What do analysts think of Old National Bancorp?
15 analysts cover it; their average recommendation is “Buy” and their average target is 29.60 USD (+21.2% versus the price). It is an estimate, not market data.