Old National Bancorp (NASDAQ:ONB) Posts Earnings Results, Beats Expectations By $0.03 EPS

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings results on Wednesday. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03, FiscalAI reports. The firm had revenue of $714.41 million during the quarter, compared to analysts’ expectations of $705.62 million. Old National Bancorp had a return on equity of 10.42% and a net margin of 17.39%.During the same period in the previous year, the business earned $0.49 earnings per share.

Here are the key takeaways from Old National Bancorp’s conference call:

• Record 2025 performance — adjusted Q4 EPS of $0.62 (ex-items), up 27% YoY, with peer-leading profitability (adjusted ROTCE ~20%, adjusted ROA 1.37%) and a 46% adjusted efficiency ratio.
• Successfully completed the Bremer systems conversion and integration, realizing ~28% of expected cost savings in Q4 and expecting full Bremer cost savings to be realized in Q1 2026.
• Strong capital and shareholder returns — CET1 above 11%, tangible book value per share up ~15% year-over-year, and 2.2 million shares repurchased in 2025 with plans to be more active on buybacks in 2026.
• Credit metrics improving — criticized/classified loans down ~8%, non-accruals down ~12%, low net charge-offs, and historically lower NPL-to-NCO conversion versus peers due to disciplined credit management.
• 2026 outlook calls for 4%–6% loan growth and stable-to-improving NII/NIM, contingent on assumptions (two 25bp rate cuts, ~40% deposit down-rate beta, and continued deposit management), with fee income and Bremer savings supporting EPS growth.

Old National Bancorp Price Performance

Shares of ONB opened at $24.02 on Thursday. The firm has a 50-day simple moving average of $22.40 and a two-hundred day simple moving average of $21.96. The stock has a market cap of $9.39 billion, a PE ratio of 14.05 and a beta of 0.84. Old National Bancorp has a 1-year low of $16.83 and a 1-year high of $24.49. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.91.

Old National Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, December 5th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, December 5th. Old National Bancorp’s dividend payout ratio (DPR) is 32.75%.

Analysts Set New Price Targets

A number of analysts have commented on ONB shares. Piper Sandler reiterated an “overweight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of Old National Bancorp in a report on Thursday, October 23rd. TD Cowen raised Old National Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $25.00 price objective on shares of Old National Bancorp in a report on Monday, January 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. Finally, Barclays set a $29.00 price target on shares of Old National Bancorp and gave the company an “overweight” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.18.

Key Headlines Impacting Old National Bancorp

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

• Positive Sentiment: Q4 results beat estimates: adjusted EPS of $0.62 topped consensus and revenue beat expectations — the core beat is a clear near?term catalyst for the stock. Read More.
• Positive Sentiment: Record full-year performance and management commentary: adjusted 2025 EPS of $2.21 and management cited fundamentals (deposit-funded loan growth, disciplined credit, positive operating leverage) as drivers — supports confidence in ongoing earnings power. Read More.
• Positive Sentiment: Loan growth and healthy pipeline: total loans rose to ~$48.8B (6.4% annualized) with commercial production up strongly — revenue expansion from loan growth supports net interest income. Read More.
• Positive Sentiment: Improved operating metrics: adjusted efficiency ratio improved to 46.0%, NIM ticked higher to ~3.65%, and adjusted pre?provision net revenue rose — indicates better profitability/leverage. Read More.
• Neutral Sentiment: Analyst and investor materials available — earnings call transcript and presentation provide more color for modeling; buyers often re?price once they parse slides/calls. Read More. / Read More.
• Negative Sentiment: Core deposits fell (core deposits down ~3.2% annualized) and total deposit growth was only modest — funding weakness could pressure future margins if deposit mix or pricing deteriorates. Read More.
• Negative Sentiment: One?time and merger-related charges: $24.5M pre?tax merger charges plus a $15.9M pension plan loss reduced GAAP results; these items can cloud near?term EPS comparisons. Read More.
• Negative Sentiment: Credit-related trends: provision for credit losses rose modestly and net charge?offs increased — credit metrics remain manageable but will be watched by investors. Read More.

Institutional Trading of Old National Bancorp

Several institutional investors have recently added to or reduced their stakes in ONB. Tidal Investments LLC acquired a new stake in shares of Old National Bancorp during the second quarter worth about $444,000. Hsbc Holdings PLC increased its stake in Old National Bancorp by 48.7% during the 2nd quarter. Hsbc Holdings PLC now owns 20,134 shares of the bank’s stock worth $431,000 after buying an additional 6,596 shares during the period. NorthRock Partners LLC increased its stake in Old National Bancorp by 73.8% during the 3rd quarter. NorthRock Partners LLC now owns 16,715 shares of the bank’s stock worth $367,000 after buying an additional 7,098 shares during the period. Jump Financial LLC lifted its holdings in Old National Bancorp by 61.5% during the 2nd quarter. Jump Financial LLC now owns 17,201 shares of the bank’s stock worth $367,000 after buying an additional 6,552 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in Old National Bancorp in the 2nd quarter valued at approximately $353,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.