TD Cowen Issues Pessimistic Forecast for Old National Bancorp (NASDAQ:ONB) Stock Price

Old National Bancorp (NASDAQ:ONB) had its price objective reduced by equities research analysts at TD Cowen from $30.00 to $29.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. TD Cowen’s price objective suggests a potential upside of 16.81% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their price objective on shares of Old National Bancorp from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price target on shares of Old National Bancorp from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler assumed coverage on shares of Old National Bancorp in a research note on Thursday, September 17th. They set an “overweight” rating and a $32.00 price objective for the company. Truist Financial raised their price objective on shares of Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, UBS Group assumed coverage on Old National Bancorp in a research report on Tuesday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.64.

Old National Bancorp Price Performance

ONB stock traded up $0.24 during midday trading on Thursday, hitting $24.83. 1,141,263 shares of the stock were exchanged, compared to its average volume of 3,717,340. The stock’s 50-day moving average price is $25.42 and its 200-day moving average price is $25.08. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 11.04 and a beta of 0.86. Old National Bancorp has a fifty-two week low of $19.60 and a fifty-two week high of $27.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 0.94.

Old National Bancorp (NASDAQ:ONB) last posted its earnings results on Wednesday, October 21st. The bank reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $719.50 million for the quarter, compared to the consensus estimate of $732.04 million. Old National Bancorp had a return on equity of 11.80% and a net margin of 21.60%. During the same period in the previous year, the business earned $0.59 earnings per share. Research analysts predict that Old National Bancorp will post 2.60 earnings per share for the current year.

Insider Activity

In related news, insider Nicholas Chulos sold 20,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total transaction of $533,200.00. Following the transaction, the insider directly owned 53,544 shares in the company, valued at approximately $1,427,483.04. This represents a 27.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chady Alahmar sold 11,771 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.41, for a total value of $310,872.11. Following the completion of the sale, the chief executive officer directly owned 63,531 shares in the company, valued at approximately $1,677,853.71. The trade was a 15.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in shares of Old National Bancorp in the third quarter worth approximately $53,000. Quadrant Capital Group LLC grew its holdings in Old National Bancorp by 2.9% in the third quarter. Quadrant Capital Group LLC now owns 32,349 shares of the bank’s stock valued at $796,000 after purchasing an additional 903 shares during the period. State of Alaska Department of Revenue grew its holdings in Old National Bancorp by 39.0% in the third quarter. State of Alaska Department of Revenue now owns 46,833 shares of the bank’s stock valued at $1,153,000 after purchasing an additional 13,140 shares during the period. Fortitude Family Office LLC grew its holdings in Old National Bancorp by 313.5% in the third quarter. Fortitude Family Office LLC now owns 1,075 shares of the bank’s stock valued at $26,000 after purchasing an additional 815 shares during the period. Finally, GAMMA Investing LLC increased its position in Old National Bancorp by 10.2% during the third quarter. GAMMA Investing LLC now owns 12,191 shares of the bank’s stock worth $300,000 after purchasing an additional 1,131 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Old National Bancorp

Here are the key news stories impacting Old National Bancorp this week:

• Positive Sentiment: Old National reported record third-quarter net income applicable to common shareholders of $250.0 million, or $0.66 per diluted share, up from $0.59 a year earlier. Earnings matched consensus estimates. Old National Bancorp Reports Record Third Quarter 2026 Results
• Positive Sentiment: Management presented a confident outlook and indicated the company remains positioned for further record earnings, supporting the bullish case highlighted by recent analyst commentary. Old National Bancorp Signals Record Earnings, Confident Outlook
• Positive Sentiment: The bank repurchased $100 million of common stock and paid $55 million in quarterly dividends. Its preliminary common equity Tier 1 ratio was a solid 11.11%, indicating capacity for capital returns while maintaining regulatory strength. Old National Reports Record Third-Quarter Profit
• Positive Sentiment: Operating efficiency remained strong, with a 46.1% efficiency ratio, while deposits reached $57.6 billion and loans totaled $51.2 billion. Old National Reports Record Third-Quarter Profit
• Neutral Sentiment: Credit costs were notable but manageable: provision for credit losses was $33.6 million and net charge-offs were $34.1 million. Investors will continue watching asset quality as the bank grows.
• Negative Sentiment: Revenue came in below expectations—approximately $719.5 million versus the $732.0 million consensus estimate—despite the earnings-per-share result meeting forecasts. Old National Bancorp Earnings Results
• Negative Sentiment: Net interest margin was 3.47% on a GAAP basis, reflecting margin compression that could limit future revenue growth and remains a key concern in the investment case. Old National Bancorp: Solid Efficiency Despite Margin Compression

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is a regional financial services company headquartered in Evansville, Indiana. Through its principal subsidiary, Old National Bank, the company provides banking and financial solutions to individuals, families, businesses and institutions.

Its products and services include checking and savings accounts, commercial and consumer lending, residential mortgages, treasury and cash-management services, trust and investment management, wealth management, and other financial advisory services.