Old National Bancorp (NASDAQ:ONB) Stock Price Target Cut by TD Cowen

by · The Markets Daily

Old National Bancorp (NASDAQ:ONB – Get Free Report) had its price target lowered 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 indicates a potential upside of 16.81% from the company’s current price.

Several other research firms have also commented on ONB. Jefferies Financial Group reissued a “hold” rating and issued a $27.00 target price on shares of Old National Bancorp in a report on Wednesday, July 22nd. Truist Financial raised their target price on Old National Bancorp from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “buy (b)” rating on shares of Old National Bancorp in a research note on Tuesday, September 1st. UBS Group began coverage on Old National Bancorp in a research note on Tuesday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Finally, Barclays upped their price target on Old National Bancorp from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.64.

Read Our Latest Report on Old National Bancorp

Old National Bancorp Stock Up 1.0%

Shares of NASDAQ:ONB traded up $0.24 during trading hours on Thursday, reaching $24.83. The stock had a trading volume of 1,141,263 shares, compared to its average volume of 3,717,340. Old National Bancorp has a 1 year low of $19.60 and a 1 year high of $27.36. The firm’s 50 day moving average is $25.42 and its 200-day moving average is $25.08. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 11.04 and a beta of 0.86. 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 – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The bank reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $719.50 million during the quarter, compared to analysts’ expectations of $732.04 million. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. During the same period in the previous year, the company earned $0.59 EPS. Research analysts predict that Old National Bancorp will post 2.60 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chady M. Alahmar sold 11,771 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 63,531 shares in the company, valued at approximately $1,677,853.71. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas J. 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 sale, the insider owned 53,544 shares of the company’s stock, valued at $1,427,483.04. This trade represents a 27.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ONB. BlackRock Inc. acquired a new stake in shares of Old National Bancorp in the second quarter valued at about $1,215,819,000. The Manufacturers Life Insurance Company purchased a new stake in Old National Bancorp during the second quarter worth about $134,610,000. Bank of America Corp DE acquired a new position in Old National Bancorp during the second quarter worth about $100,301,000. William Blair Investment Management LLC acquired a new position in Old National Bancorp during the second quarter worth about $99,283,000. Finally, Bank of New York Mellon Corp acquired a new position in Old National Bancorp during the second quarter worth about $90,226,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Old National Bancorp News Roundup

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

Old National Bancorp Company Profile

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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.

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