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

Old National Bancorp (NASDAQ:ONB) issued its quarterly earnings data on Wednesday. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03, FiscalAI reports. Old National Bancorp had a return on equity of 15.06% and a net margin of 17.91%.The company had revenue of $714.50 million during the quarter, compared to analysts’ expectations of $705.62 million. During the same period last 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

NASDAQ:ONB opened at $24.24 on Friday. Old National Bancorp has a 52-week low of $16.83 and a 52-week high of $24.78. The company has a market cap of $9.47 billion, a P/E ratio of 13.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 0.93. The stock’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $21.98.

Old National Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, December 5th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, December 5th. Old National Bancorp’s dividend payout ratio is currently 32.75%.

Analyst Upgrades and Downgrades

ONB has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Old National Bancorp in a report on Monday, December 15th. They set a “neutral” rating and a $25.00 price objective for the company. National Bankshares set a $30.00 target price on Old National Bancorp in a research note on Thursday. Piper Sandler reissued an “overweight” rating and set a $26.00 price target (down from $27.00) on shares of Old National Bancorp in a research note on Thursday, October 23rd. Truist Financial dropped their price objective on Old National Bancorp from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Finally, Barclays set a $29.00 target price on shares of Old National Bancorp and gave the company an “overweight” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.18.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AXA S.A. acquired a new stake in Old National Bancorp in the 2nd quarter worth about $8,093,000. California Public Employees Retirement System grew its position in shares of Old National Bancorp by 11.4% during the 2nd quarter. California Public Employees Retirement System now owns 548,331 shares of the bank’s stock worth $11,701,000 after purchasing an additional 55,986 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Old National Bancorp in the second quarter valued at approximately $1,000,000. Jump Financial LLC increased its stake 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 acquiring an additional 6,552 shares during the period. Finally, Marshall Wace LLP raised its holdings in Old National Bancorp by 1,065.7% in the 2nd quarter. Marshall Wace LLP now owns 228,473 shares of the bank’s stock valued at $4,876,000 after acquiring an additional 208,873 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Trending Headlines about Old National Bancorp

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

• Positive Sentiment: Q4 and full‑year results beat expectations — adjusted Q4 EPS $0.62 vs. consensus $0.59; Q4 net income $212.6M; loan growth, improved efficiency (adjusted efficiency ratio 46.0%) and strong ROATCE (17.8%). Management cited core deposit growth supporting loan expansion and strong capital ratios. Old National Bancorp Reports Fourth Quarter and Full-Year 2025 Results
• Positive Sentiment: Analyst action: RBC raised its price target to $26 (from $25) and kept a “sector perform” rating — implies further upside from current levels and may lend support to the rally. RBC raises price target to $26
• Positive Sentiment: Reputation boost — Old National received the “Customer Confidence Award” in Quavo’s Trust in Banking Awards, a positive for brand and customer perception (minor direct financial impact but supportive for long‑term deposit/retention trends). Old National Receives 2026 Trust in Banking Award
• Neutral Sentiment: Investor materials: Old National posted a fixed‑income investor presentation — useful for bond/income investors but limited immediate equity impact. Old National Bancorp Capital Highlights Fixed Income Investor Presentation
• Neutral Sentiment: Earnings call coverage and transcripts are available — sell‑side/independent writeups summarize management commentary and provide context for near‑term outlook; useful for active investors digging into guidance and pipeline. Old National Bancorp (ONB) Q4 2025 Earnings Call Transcript
• Negative Sentiment: Deposit pressure and one‑offs: core deposits fell ~3.2% annualized in Q4 (seasonal outflows of public funds were cited); the company recorded $24.5M pre‑tax merger‑related charges and a $15.9M pension loss. These items can weigh on near‑term earnings and funding costs. Old National Bancorp (ONB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
• Negative Sentiment: Credit and provisions: provision for credit losses rose to $32.7M and net charge‑offs increased modestly; while still manageable, any further weakening in asset quality could pressure earnings and capital. (See company release for loan/asset quality detail.) Old National Bancorp Reports Strong Fourth Quarter and Full Year 2025 Financial Results

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.