Old National Bancorp (NASDAQ:ONB) Given New $28.00 Price Target at Keefe, Bruyette & Woods

Old National Bancorp (NASDAQ:ONB) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $27.00 to $28.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 17.03% from the stock’s current price.

ONB has been the topic of a number of other reports. Citigroup upped their target price on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. National Bank Financial set a $30.00 target price on Old National Bancorp in a research report on Thursday, January 22nd. Stephens upped their target price on Old National Bancorp from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $26.00 target price on shares of Old National Bancorp in a research report on Wednesday, February 4th. Finally, Truist Financial upped their target price on Old National Bancorp from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Old National Bancorp has an average rating of “Moderate Buy” and an average price target of $27.91.

Old National Bancorp Stock Down 0.4%

Old National Bancorp stock traded down $0.10 during midday trading on Thursday, hitting $23.93. 719,972 shares of the company were exchanged, compared to its average volume of 3,163,958. The company’s fifty day moving average price is $22.99 and its 200-day moving average price is $22.56. The company has a market cap of $9.24 billion, a PE ratio of 13.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.93 and a quick ratio of 0.93. Old National Bancorp has a fifty-two week low of $19.39 and a fifty-two week high of $26.17.

Old National Bancorp (NASDAQ:ONB) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Old National Bancorp had a return on equity of 10.75% and a net margin of 17.91%.The firm had revenue of $702.69 million for the quarter, compared to analyst estimates of $706.62 million. During the same period in the previous year, the company posted $0.45 EPS. Old National Bancorp’s revenue for the quarter was up 44.4% on a year-over-year basis. On average, research analysts predict that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Insider Activity

In related news, insider Nicholas J. Chulos sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $25.05, for a total transaction of $751,500.00. Following the sale, the insider directly owned 20,438 shares of the company’s stock, valued at approximately $511,971.90. This represents a 59.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONB. Royal Bank of Canada grew its stake in Old National Bancorp by 2.0% during the 1st quarter. Royal Bank of Canada now owns 214,065 shares of the bank’s stock worth $4,536,000 after buying an additional 4,153 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Old National Bancorp by 87.8% during the 1st quarter. Jones Financial Companies Lllp now owns 12,696 shares of the bank’s stock worth $269,000 after buying an additional 5,936 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Old National Bancorp by 8.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,843,946 shares of the bank’s stock worth $60,263,000 after acquiring an additional 215,203 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Old National Bancorp by 7.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 913,117 shares of the bank’s stock worth $19,349,000 after acquiring an additional 64,110 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Old National Bancorp by 6.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 53,853 shares of the bank’s stock worth $1,149,000 after acquiring an additional 3,091 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Old National Bancorp News Summary

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

• Positive Sentiment: Analysts raised targets and recommendations — Truist raised its price target to $28 and maintained a “buy” rating (bigger upside) and Jefferies raised its target to $25 (hold). These upgrades signal analyst confidence in the company’s outlook and provide near-term upside support. Truist Price Target Raise Jefferies Price Target Raise
• Positive Sentiment: Q1 earnings beat on EPS ($0.61 vs. $0.60 expected) and strong year-over-year revenue growth (revenue +44.4% YoY). Beating EPS helps justify current analyst optimism. Earnings Report
• Positive Sentiment: Operational strength: record efficiency ratio (45.7%), ~8% annualized loan growth, $5.5B commercial pipeline, deposits up ~4.2% annualized and lower deposit costs — these metrics point to scalable, profitable growth across ONB’s footprint. Seeking Alpha Analysis
• Neutral Sentiment: Management commentary and the earnings call/slide deck provide guidance context and confidence in growth execution; transcripts and presentations are available for deeper review. Earnings Call Transcript Presentation
• Negative Sentiment: Revenue narrowly missed estimates ($702.7M vs. $706.6M expected) and net interest margin compressed ~10 bps to 3.55%, which could pressure near-term earnings power if NIM weakness continues. Revenue Miss Report
• Negative Sentiment: Valuation caution — some analysts and commentators describe ONB as “efficient but expensive,” implying upside depends on continued margin stability and execution; investors may watch valuation relative to peers. Valuation Note

About Old National Bancorp

Old National Bancorp (NASDAQ: ONB) is the bank holding company for Old National Bank, a regional financial services firm headquartered in Evansville, Indiana. Through its network of community banking offices, the company provides a full range of commercial and consumer banking services. Its offerings include checking and savings accounts, personal and business loans, and deposit products designed to meet the needs of individuals, small businesses, and larger corporate customers.

In addition to traditional banking, Old National Bancorp delivers specialty financial services such as treasury management, wealth management, mortgage loan production, and insurance solutions.