La vendita allo scoperto per Old National dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Old National. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Old National (NASDAQ:ONB) Azioni, Report sulle vendite allo scoperto

Old National

NYSE

Old National Bancorp with almost $10 billion in assets following its latest acquisition, Old National Bancorp is a financial services bank holding company headquartered in Indiana. Based in Evansville, Ind., Old National owns multiple financial services operations in Indiana, Illinois, and Kentucky. The company provides a group of similar community banking services, including such products and services as commercial, real estate, and consumer loans; deposits; and brokerage, trust, and investment advisory services.

Old National Bancorp

One Bio Corp

Old National Bancorp - Depositary Shares, Each Representing a 1/40th Interest in a Share of Series C Preferred Stock

Old National Bancorp - Depositary Shares, Each Representing a 1/40th Interest in a Share of Series A Preferred Stock

ONBUFF

Raymond James analyst David Long upgrades Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) from Market Perform to Strong Buy and announces $28 price target.

News

Upgrades

Price Target

Analyst Ratings

Raymond James Upgrades Old National to Strong Buy, Announces $28 Price Target

RBC Capital analyst Jon Arfstrom maintains Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) with a Sector Perform and raises the price target from $24 to $25.

RBC Capital Maintains Sector Perform on Old National, Raises Price Target to $25

Throughout the last three months, 4 analysts have evaluated Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>), offering a diverse set of opinions from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $26.25, a high estimate of $28.00, and a low estimate of $24.00. This current average has increased by 14.13% from the previous average price target of $23.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1732633232_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A comprehensive examination of how financial experts perceive Old National is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$28.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$26.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Scott Siefers</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$27.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Jared Shaw</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$24.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Old National. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Old National compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Old National's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Old National's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/ONB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Old National analyst ratings.</a>
<h2>About Old National</h2>
Old National Bancorp with almost $10 billion in assets following its latest acquisition, Old National Bancorp is a financial services bank holding company headquartered in Indiana. Based in Evansville, Ind., Old National owns multiple financial services operations in Indiana, Illinois, and Kentucky. The company provides a group of similar community banking services, including such products and services as commercial, real estate, and consumer loans; deposits; and brokerage, trust, and investment advisory services.
<h3>Key Indicators: Old National's Financial Health</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Old National's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 6.54%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Old National's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 28.77%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Old National's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.33%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.26%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 0.83, Old National faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 4 Takes On Old National

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) with a Outperform and raises the price target from $23 to $28.

Keefe, Bruyette & Woods Maintains Outperform on Old National, Raises Price Target to $28

Barclays analyst Jared Shaw maintains Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) with a Overweight and raises the price target from $24 to $26.

Barclays Maintains Overweight on Old National, Raises Price Target to $26

Piper Sandler analyst Scott Siefers reiterates Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) with a Overweight and raises the price target from $23 to $27.

Reiteration

Piper Sandler Reiterates Overweight on Old National, Raises Price Target to $27

Old National's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NYSE">ONB</a>) short percent of float has risen 7.32% since its last report. The company recently reported that it has 9.46 million shares sold short, which is 3.81% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.3 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Old National Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732549515_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Old National has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Old National's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Old National's peer group average for short interest as a percentage of float is 3.09%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Old National's Recent Short Interest

Old National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) ("Old National") and Bremer Financial Corporation ("BFC" or "Bremer") jointly announced today that they entered into a definitive merger agreement. Founded in 1943, BFC is the bank holding company for Bremer Bank.
As of September 30, 2024, Bremer had $16.2 billion in total assets, $11.5 billion in total loans, and $13.2 billion in deposits. After the partnership is completed, Old National will become the third-largest bank in the Twin Cities. In addition, the partnership expands Old National's reach into several other vibrant markets throughout Minnesota, North Dakota and Wisconsin. Once combined, the new organization would have over $70 billion in assets (based on September 30, 2024 asset figures), a significantly larger footprint, and offer additional banking capabilities and enhanced resources to serve customers.
"This partnership represents an outstanding fit between two highly compatible, relationship- and community-focused banks," said Old National Chairman and CEO Jim Ryan. "When you look at what has made Bremer Bank a leading institution since 1943, what you quickly find are the same strategic priorities and cultural principles that have guided Old National's success for 190 years: a strong deposit franchise, a diversified loan portfolio accentuated by exceptional credit quality, and a passion for investing in and strengthening communities. I am incredibly confident that, through this partnership, Bremer and Old National will be even better together."
"For more than 80 years, we've been honored to carry out the legacy of our founder, Otto Bremer," said Jeanne Crain, President and CEO of Bremer. "When our majority shareholder, the Otto Bremer Trust, reaffirmed its interest in selling Bremer Bank, we appreciated the opportunity to identify a partner through a collaborative process to ensure the best possible outcome for our customers, employees, and our communities. With Old National, we have confidence we found a great fit."
The Otto Bremer Trust The Otto Bremer Trust (the "Trust") is a private charitable trust based in St. Paul, Minnesota. It currently holds a majority ownership stake in Bremer. Established in 1944, the Trust works to combine finance and philanthropy in service of the community. Since its inception, the Trust has made more than $1.1 billion in grants and program-related investments to more than 4,200 organizations.
Upon closing of this transaction, the Trust will have an approximate 11% ownership stake in Old National and a Trustee of the Otto Bremer Trust will join the Old National Board of Directors.
The Otto Bremer Trust commented: "All of us at the Otto Bremer Trust are excited that the Bremer Bank legacy of investing in people, places and opportunities continues with one of the most community-minded banks in the nation. This partnership expands the scope of what can be accomplished for and within our communities – civically, socially and economically."
The partnership transaction includes 70 total banking centers in Minnesota, North Dakota and Wisconsin
48 branches in Minnesota, including:
<ul>
<li>18 locations in the Twin Cities region</li>
<li>5 locations in the Rochester region</li>
<li>7 locations in the Alexandria region</li>
<li>4 locations in the St. Cloud region</li>
</ul>
14 branches in North Dakota, including:
<ul>
<li>6 locations in the Grand Forks region</li>
<li>7 locations in the Fargo region</li>
</ul>
8 branches in Wisconsin, including:
<ul>
<li>1 location in Appleton</li>
<li>1 location in Eau Claire</li>
</ul>
Under the terms of the definitive merger agreement, each outstanding share of Bremer common stock will be converted into the right to receive 4.182 shares of Old National common stock plus $26.22 in cash, valuing the transaction at approximately $1,401 million, or $116.76 per share, based on Old National's closing stock price on November 22, 2024. The definitive merger agreement has been unanimously approved by the Board of Directors of Bremer and Old National. The transaction is subject to customary closing conditions and regulatory approvals, including the approval of Bremer shareholders. The transaction is anticipated to close in the middle of 2025.
&nbsp;

Old National Acquires Bremer Bank in $1.4B Deal, Expanding Midwest Footprint

Old National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) ("Old National") today announced the pricing of an underwritten public offering of 19,047,619 shares of its common stock, no par value (the "Common Stock"), at a public offering price of $21.00 per share (before underwriting discounts and commissions), for an aggregate offering amount of $400 million. The approximate net proceeds of the offering will be $384 million (before offering expenses, assuming the underwriters do not exercise their option to purchase additional shares and assuming full physical settlement of the forward sale agreement at the initial forward price) in connection with the forward sale agreement described below.

Offerings

Old National Bancorp To Raise $400M Via Secondary Stock Offering Of 19M Shares At $21/Share

In the current session, the stock is trading at $21.46, after a 12.00% spike. Over the past month, Old National Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) stock increased by 17.33%, and in the past year, by 55.62%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1730908080_0.png" alt="Past Year Chart" />

<h3>Comparing Old National P/E Against Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 20.04 in the Banks industry, Old National Inc. has a lower P/E ratio of 11.61. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1730908080_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

Price Over Earnings Overview: Old National

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Shares of banking and private equity stocks are trading higher after Donald Trump won the US presidential election.

Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) reported quarterly earnings of $0.46 per share which met the analyst consensus estimate. This is a 9.8 percent decrease over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $485.862 million which beat the analyst consensus estimate of $482.156 million by 0.77 percent. This is a 6.54 percent increase over sales of $456.024 million the same period last year.

Earnings

Earnings Beats

Old National Q3 2024 Adj. EPS $0.46, Inline, Sales $485.862M Beat $482.156M Estimate

Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) is preparing to release its quarterly earnings on Tuesday, 2024-10-22. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Old National to report an earnings per share (EPS) of $0.46.
Old National bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.02, leading to a 1.63% drop in the share price the following trading session.
Here's a look at Old National's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.44</td>
<td>0.43</td>
<td>0.48</td>
<td>0.50</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.46</td>
<td>0.45</td>
<td>0.46</td>
<td>0.51</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729526487_0.png" alt="eps graph" />
<h3>Market Performance of Old National's Stock</h3>
Shares of Old National were trading at $19.52 as of October 18. Over the last 52-week period, shares are up 40.85%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/ONB/earnings">To track all earnings releases for Old National visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Old National

<a href="https://www.infosys.com/en.html">Infosys</a>&nbsp;(NSE: INFY) (BSE: INFY) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), a global leader in next-generation digital services and consulting, and <a href="https://www.oldnational.com/">Old National Bank</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>), the sixth largest commercial bank headquartered in the Midwest, recently entered into a&nbsp;strategic expansion of their four-year collaboration. This deepening of a highly successful relationship enables Old National to leverage Infosys services, solutions and platforms for operations transformation and process digitization powered by automation and GenAI, and transformation of key business areas.
Since 2020, Infosys has helped Old National modernize its digital landscape using a highly efficient, self-funding model.&nbsp;The resulting uplift in stability, resiliency and improved client experience has served to accelerate and sustain Old National's growth.

INFY

Infosys' And Old National Entered Into A Strategic Expansion Of Their 4-Year Collaboration

Barclays analyst Jared Shaw maintains Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) with a Overweight and raises the price target from $22 to $24.

Barclays Maintains Overweight on Old National, Raises Price Target to $24

Old National's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NYSE">ONB</a>) short percent of float has fallen 4.99% since its last report. The company recently reported that it has 9.48 million shares sold short, which is 3.81% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.74 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Old National Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725652821_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Old National has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Old National's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Old National's peer group average for short interest as a percentage of float is 3.41%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Guidance

Old National Bancorp Sees FY 2024 Net Interest Income Of ~$1.56B; Q3 2024 Net Interest Income ~$398M

Old National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onb#NASDAQ">ONB</a>) is well-positioned on strong loan growth, high interest rates and strategic initiatives. Moreover, solid liquidity and efforts to improve fee income are likely to support its financials.
Over the past 30 days, the Zacks Consensus Estimate for 2024 and 2025 earnings has remained unchanged. ONB currently carries a Zacks Rank #2 (Buy).
Over the past year, shares of Old National have gained 7.3%.
<div class="chart_embed">
<h3>Old National Bancorp Price</h3>
<img alt="Old National Bancorp Price" src="https://staticx-tuner.zacks.com/images/charts/7f/1723122927.png" style="height:254px; width:536px" title="" />
Old National Bancorp price | Old National Bancorp Quote
Let&#39;s dig deeper into the factors that make ONB stock worth buying now.
Earnings Growth: Old National witnessed earnings growth of 9.8% over the past three to five years, outperforming the industry average of 8.5%. This was largely driven by the company&#39;s organic growth strategy, solid balance sheet and opportunistic expansions.
Also, the company has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and lagged in one, with the average beat being 2.28%.
While the Zacks Consensus Estimate for earnings indicates a 9.8% decline on a year-over-year basis in 2024, earnings are projected to rebound and grow at the rate of 7.6% in 2025.
Revenue Strength: Driven by diverse revenue streams, solid loan growth and inorganic expansionary measures, Old National&#39;s total revenues witnessed a compound annual growth rate (CAGR) of 20.2% over the last five years (2018-2023). Though the trend reversed in the first half of 2024 due to higher deposit costs and lower capital markets income, a high interest rate regime, improving fee income and strategic acquisitions are likely to support top-line expansion, while rising funding costs will weigh on it to some extent.
The Zacks Consensus Estimate for revenues indicates 1.8% and 5.8% growth on a year-over-year basis in 2024 and 2025, respectively.
Strategic Business Restructuring: Old National has been engaged in opportunistic acquisitions and divestitures to expand its footprint and gain market share while boosting operational efficiency. Notably, the company has acquired more than 50 financial institutions since its inception in 1982.
This April, the company completed its merger with CapStar Financial Holdings, Inc. In 2022, the company completed its merger of equals with First Midwest. In the same year, ONB completed the sale of a part of its business that served as a custodian and administrator for health savings accounts.&nbsp; These strategic initiatives have deepened the company&#39;s presence within the United States and helped expand fee income sources while optimizing the business structure.
Strong Balance Sheet: As of Jun 30, 2024, ONB&#39;s total cash and cash equivalents (consisting of cash and due from banks and money market and other interest-earning investments) were $1.2 billion. Other borrowings were $849.8 million as of the same date. Hence, a solid liquidity position allows the company to address its near-term obligations.
Impressive Capital Distributions: Old National&#39;s dividend payouts are encouraging. The company has been paying dividends regularly, with the most recent one announced in May 2024. Moreover, the company has hiked its dividend once during the last five years. Further, the company has a share repurchase program in place. The plan was authorized this February, enabling the company to buy back up to $200 million worth of shares, with an expiration date of Feb 28, 2025.&nbsp; As of Jun 30, 2024, the entire authorization remained available.
Given its decent earnings strength and strong liquidity position, the company is expected to continue its capital distribution activities, thus enhancing shareholder value.
Stock Seems Undervalued: ONB&#39;s price-to-book and price-to-earnings (F1) ratios of 0.97 and 7.68 are well below the industry average of 1.07 and 10.72, respectively. Thus, the stock seems to be available at a better valuation than its peers.
</div>
<h3>Other Banking Stocks to Consider</h3>
Some other top-ranked stocks from the banking space worth a look are 1st Source Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>) and Commerce Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbsh#NASDAQ">CBSH</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for SRCE&#39;s current-year earnings has moved 5.9% north over the past week. Shares of the company have gained 15.9% in the past six months.
The Zacks Consensus Estimate for CBSH&#39;s 2024 earnings has moved 8.3% upward in the past month. Over the past six months, shares of the company have gained 19.8%.
<a href="https://www.zacks.com/stock/news/2319339/here-s-why-old-national-onb-stock-is-worth-buying-right-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2319339">To read this article on Zacks.com click here.</a>

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Here's Why Old National Stock is Worth Buying Right Now

RBC Capital analyst Jon Arfstrom maintains Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) with a Sector Perform and raises the price target from $19 to $22.

RBC Capital Maintains Sector Perform on Old National, Raises Price Target to $22

Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) reported quarterly earnings of $0.46 per share which beat the analyst consensus estimate of $0.44 by 4.55 percent. This is a 14.81 percent decrease over earnings of $0.54 per share from the same period last year. The company reported quarterly sales of $475.69 million which beat the analyst consensus estimate of $473.79 million by 0.40 percent. This is a 2.56 percent increase over sales of $463.80 million the same period last year.

Old National Q2 Adj $0.46 Beats $0.44 Estimate, Sales $475.69M Beat $473.79M Estimate

Keefe Bruyette says Old National Bancorp (ONB) is acquiring Bremer Bank in a "well-priced, seemingly low-risk, financially attractive deal." The ma...

Market should respond favorably to Old National deal, says Keefe Bruyette

Buy-rated stocks with passive and active net buying tailwinds – Citi

Analysts have been eager to weigh in on the Financial sector with new ratings on Old National Bancorp Capital (ONB – Research Report) and Navient (...

Analysts Have Conflicting Sentiments on These Financial Companies: Old National Bancorp Capital (ONB) and Navient (NAVI)

Barclays raised the firm's price target on Old National Bancorp (ONB) to $26 from $24 and keeps an Overweight rating on the shares following the co...

Old National Bancorp price target raised to $26 from $24 at Barclays

Keefe Bruyette raised the firm's price target on Old National Bancorp (ONB) to $28 from $23 and keeps an Outperform rating on the shares. The firm ...

Old National Bancorp price target raised to $28 from $23 at Keefe Bruyette

Raymond James upgraded Old National Bancorp (ONB) to Strong Buy from Market Perform with a $28 price target Published first on TheFly – the ultimat...

Old National upgraded to Strong Buy from Market Perform at Raymond James

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Bank Of Hawaii (BOH – Research Report), Old Nationa...

Analysts Conflicted on These Financial Names: Bank Of Hawaii (BOH), Old National Bancorp Capital (ONB) and GoHealth (GOCO)

Piper Sandler analyst Scott Siefers maintained a Buy rating on Old National Bancorp Capital (ONB – Research Report) today and set a price target of...

Piper Sandler Remains a Buy on Old National Bancorp Capital (ONB)

RBC Capital analyst Jon Arfstrom raised the firm's price target on Old National Bancorp (ONB) to $25 from $24 and keeps a Sector Perform rating on ...

Old National Bancorp price target raised to $25 from $24 at RBC Capital

Piper Sandler raised the firm's price target on Old National Bancorp (ONB) to $27 from $23 and keeps an Overweight rating on the shares after the c...

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