Old National Bancorp (NASDAQ:ONB) Releases Quarterly Earnings Results

Old National Bancorp (NASDAQ:ONB) announced its quarterly earnings data on Wednesday. The bank reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66, FiscalAI reports. The company had revenue of $719.50 million during 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 quarter in the prior year, the firm earned $0.59 EPS.

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

• Record third-quarter results included adjusted EPS of $0.66, a 1.37% return on assets, 19.6% return on tangible common equity, and a record-low 44.9% adjusted efficiency ratio.
• Balance-sheet growth remained strong, with deposits up 11% annualized and loans up 3% annualized sequentially; the commercial pipeline reached $4.4 billion, while C&I loans grew 12% year over year.
• Credit trends improved, with criticized and classified loans down 9% sequentially and 16% year over year, while capital remained robust with CET1 above 11%; management plans to use the remaining $177 million buyback authorization opportunistically.
• Management maintained its full-year outlook, including 6%-8% loan growth and more than 15% EPS growth, but expects full-year net interest income and expenses near the low ends of their respective ranges. Fourth-quarter mortgage fees may remain soft, while deposit competition and elevated funding costs could pressure margins despite an expected modest improvement.
• Old National added 26 relationship managers, including 19 net-new commercial bankers, with a focus on C&I growth in Cleveland, Columbus, and other expansion markets; management said it is prioritizing organic growth and does not expect further M&A in the foreseeable future.

Old National Bancorp Price Performance

Shares of ONB opened at $24.59 on Thursday. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 10.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50-day moving average is $25.42 and its 200-day moving average is $25.08. Old National Bancorp has a fifty-two week low of $19.60 and a fifty-two week high of $27.36.

Old National Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Saturday, September 5th were given a dividend of $0.1450 per share. This represents a $0.58 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, September 4th. Old National Bancorp’s payout ratio is presently 25.78%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ONB. Piper Sandler began coverage on Old National Bancorp in a report on Thursday, September 17th. They issued an “overweight” rating and a $32.00 target price on the stock. Raymond James Financial raised Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $29.00 target price for the company in a report on Tuesday, October 6th. UBS Group assumed coverage on Old National Bancorp in a research report on Tuesday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Old National Bancorp in a research report on Tuesday, September 1st. Finally, TD Cowen dropped their price target on Old National Bancorp from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.79.

Insider Activity

In other Old National Bancorp news, CEO Chady M. Alahmar sold 11,771 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.41, for a total transaction of $310,872.11. Following the completion of the transaction, the chief executive officer owned 63,531 shares of the company’s stock, valued at $1,677,853.71. The trade was a 15.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas J. Chulos sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $26.66, for a total transaction of $533,200.00. Following the completion of the sale, the insider owned 53,544 shares in the company, valued at approximately $1,427,483.04. The trade was a 27.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is owned by insiders.

Trending Headlines about Old National Bancorp

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

• Positive Sentiment: Old National reported record third-quarter 2026 net income applicable to common shareholders of $250.0 million, or $0.66 per diluted share, up from $0.59 a year earlier. Management also conveyed a confident outlook and signaled a potential record earnings trajectory. Old National Bancorp Reports Record Third Quarter 2026 Results
• Positive Sentiment: The bank returned capital to shareholders through $100 million of common-stock repurchases and $55 million in quarterly cash dividends. Its 46.1% efficiency ratio and preliminary 11.11% common equity tier 1 ratio also indicate solid operating efficiency and capitalization. Old National Reports Record $250 Million Third-Quarter Profit
• Neutral Sentiment: Period-end deposits reached $57.6 billion and loans totaled $51.2 billion, supporting the bank’s scale. However, management’s outlook and earnings-call commentary remain important for assessing whether growth can continue as interest-rate conditions change. Old National Bancorp Q3 2026 Earnings Call Transcript
• Negative Sentiment: Revenue fell short of Wall Street expectations: the bank reported approximately $719.5 million versus a consensus estimate of $732.0 million. Earnings per share merely matched the $0.66 estimate, limiting the upside surprise. Old National Bancorp Q3 Earnings Match Estimates
• Negative Sentiment: Net interest margin compression remains a concern, while the $33.6 million provision for credit losses and $34.1 million of net charge-offs add pressure to future profitability. These issues help explain the weaker investor reaction despite record net income. 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.