Retour au classement

Old National Bancorp (ONB)

NEUTRAL
Financial ServicesBanks - RegionalUnited States

Fondamental

59

Prix

$25.66

Capitalisation boursière

$9.97B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

Old National Bancorp is the holding company for Old National Bank, a regional bank operating 346 banking centers across the Midwest and Southeast United States. It earns money the way most commercial banks do: taking deposits, making commercial and consumer loans, and charging fees for wealth management, trust and capital-markets services. The bank traces its roots to 1834 and has grown mainly through acquisitions, most recently absorbing Bremer Financial Corporation in 2025.

Comment l'entreprise gagne de l'argent

Revenue is mostly net interest income: the spread between interest earned on loans and securities and interest paid on deposits and borrowings. Lending covers commercial, commercial real estate, residential and consumer loans. A smaller share comes from noninterest income — service charges on deposit accounts, and fees from wealth management, brokerage and capital-markets activities. Profitability rises when loan demand and interest margins are healthy and falls when credit losses or funding costs increase.

Ce qui stimule la demande

Modérément cyclique

Old National's earnings depend on the health of the regional economy: unemployment, business confidence and interest rates directly affect loan demand, credit losses and deposit costs. The company states that unfavorable economic conditions have in the past reduced earnings by weakening borrowers' ability to repay, and that tariff and geopolitical uncertainty can add further volatility.

Principaux risques

  • Credit losses tied to economic conditions — Old National states that unfavorable or uncertain economic conditions — recession, unemployment, falling real estate values — have adversely affected, and could again affect, borrowers' ability to repay loans and the value of collateral securing them.
  • Competition from banks and fintechs — The company competes with banks nationally and locally, and increasingly with financial-technology firms that have obtained bank or industrial-loan charters, which it says makes it harder to compete effectively for clients and deposits.
  • Deposit funding and liquidity risk — Old National must maintain adequate deposits and wholesale funding to support lending. It warns that if it cannot maintain or grow deposits, it may face higher funding costs, and unrealized losses in its securities portfolio could affect liquidity.
  • Cybersecurity and third-party vendor risk — The bank relies on external vendors and technology systems it does not fully control; a security breach or vendor failure could disrupt operations, expose customer data, and harm results, the company states.
  • Capital and regulatory requirements — As a regulated bank holding company, Old National must meet capital adequacy rules set by federal regulators, who can restrict dividends or lending if requirements are not met, and standards can change over time.

Les arguments en faveur

Buyers argue that Old National's growth through acquisitions like Bremer has built a scale advantage across the Midwest and Southeast, that its funding base is diversified across many depositors, and that disciplined underwriting has kept credit costs manageable through past economic cycles.

Les arguments contre

Sellers fear that continued reliance on acquisitions carries integration risk, that competition from larger banks and fintech lenders pressures margins, and that a downturn in the regional economy or commercial real estate values could raise credit losses faster than reserves can absorb.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Bilan & Liquidités

Chiffre d'affaires

$2.74B

12 derniers mois (au 31/03/2026)

Résultat net

$758M

12 derniers mois (au 31/03/2026)

Flux de trésorerie libre

$637M

Capitaux propres totaux

$8.49B

Passif total

$63.66B

Ratio de liquidité général

-

Couverture des intérêts

0.43

Dette/EBITDA

-

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Justement valorisé

Juste valeur

$29.97

Prix actuel

$25.66

Marge de sécurité

+14.4%

Fourchette de juste valeur

$22.75 - $37.20

Méthodes d'estimation

Analyst Target:$29.82
DCF:$37.12
PE-based:$21.50
Graham Growth:$41.17
EPV:$24.57
Consensus des analystes:Acheter (10B / 5H / 0S)
Dernière surprise sur les résultats:+2.19%

Indicateurs de valorisation

Ratio P/E

13.28

ROE

7.9%

Ratio P/B

1.17

P/FCF

13.67

Marge brute

-

ROIC

-

Radar de rentabilité

Value Creation (Economic Moat)

ROIC

-

WACC

11.9%

ROIC − WACC

-

Critères d'analyse fondamentale

Réussi (13)

  • EPS shows upward trend
  • P/FCF 13.67
  • P/B Ratio 1.17
  • Operating Margin 34.9%
  • Positive Free Cash Flow
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • ROE 10.5%
  • Revenue Growth 5Y 24.0%
  • Analyst Consensus 67% Buy
  • PEG Ratio 1.92
  • Earnings Quality (OCF/NI) 1.03

Échoué (10)

  • EPS CAGR 3.80%
  • Price CAGR 3.58%
  • Debt/Equity ratio
  • Interest Coverage
  • Return on Tangible Assets
  • DCF valuation (Overvalued)
  • Earnings Surprise avg 2.2%
  • Share Dilution 16.5%
  • Net Margin Trend 27.7% vs 29.2%
  • Piotroski F-Score 3/9

Indisponible (5)

  • ROIC NaN%
  • Gross Margin NaN%
  • Dividend Payout NaN%
  • Current Ratio
  • Debt/EBITDA

Score F de Piotroski

3/9

Préoccupations financières sérieuses

score
criteria

Qualité des bénéfices

1.03

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

16.5%

Émission de nouvelles actions, diluant la participation

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. James C. Ryan IIICEO & Chairman53
Mr. Timothy M. Burke Jr.President & COO-
Mr. John Vincent Moran IVSenior Executive VP & CFO49
Ms. Kendra L. VanzoSenior EVP & Chief Administrative Officer58
Ms. Angela L. PutnamSenior VP & Chief Accounting Officer46
Mr. Matthew T. KeenChief Information Officer51
Lynell Durchholz CPASenior VP & Director of Investor Relations-
Mr. Nicholas J. ChulosExecutive VP, Chief Legal Officer & Corporate Secretary65
Ms. Kathy A. SchoettlinChief Communications, Culture & Social Responsibility Officer54
Mr. James V. StadlerChief Marketing Officer61

Risque d'audit

4

Risque du conseil

5

Risque de rémunération

1

Risque droits des actionnaires

7

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Latest News

Recent headlines for ONB, sourced from Markets Gazette.

No recent news for ONB.