Old National Bancorp (NASDAQ:ONB) Price Target Cut to $29.00 by Analysts at JPMorgan Chase & Co.

Old National Bancorp (NASDAQ:ONB) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $30.00 to $29.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 16.35% from the company’s current price.

ONB has been the topic of several other reports. Raymond James Financial upgraded Old National Bancorp from a “market perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research note on Tuesday, October 6th. Royal Bank Of Canada reduced their target price on Old National Bancorp from $29.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, October 9th. Jefferies Financial Group restated a “hold” rating and issued a $27.00 price target on shares of Old National Bancorp in a research note on Wednesday, July 22nd. Truist Financial upped their price target on Old National Bancorp from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Citigroup lowered their price target on Old National Bancorp from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.71.

Old National Bancorp Stock Up 1.4%

Old National Bancorp stock traded up $0.34 during trading hours on Thursday, hitting $24.93. The stock had a trading volume of 831,053 shares, compared to its average volume of 3,713,925. The stock’s 50-day moving average price is $25.42 and its 200-day moving average price is $25.08. The stock has a market capitalization of $9.54 billion, a P/E ratio of 11.10 and a beta of 0.86. Old National Bancorp has a 12-month low of $19.60 and a 12-month high of $27.36. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.95.

Old National Bancorp (NASDAQ:ONB) last posted its quarterly earnings results on Wednesday, October 21st. The bank reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. Old National Bancorp had a net margin of 21.60% and a return on equity of 11.80%. The firm had revenue of $719.50 million for the quarter, compared to analysts’ expectations of $732.04 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. Equities research analysts anticipate that Old National Bancorp will post 2.60 EPS for the current fiscal year.

Insider Activity

In other news, insider Nicholas J. Chulos sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $26.66, for a total value of $533,200.00. Following the transaction, the insider owned 53,544 shares in the company, valued at $1,427,483.04. This represents a 27.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chady M. Alahmar sold 11,771 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was 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 directly owned 63,531 shares in the company, valued at approximately $1,677,853.71. The trade was a 15.63% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Old National Bancorp

Hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC grew its holdings in Old National Bancorp by 1.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 27,233 shares of the bank’s stock valued at $671,000 after buying an additional 514 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of Old National Bancorp by 313.5% during the third quarter. Fortitude Family Office LLC now owns 1,075 shares of the bank’s stock valued at $26,000 after buying an additional 815 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Old National Bancorp by 2.9% during the third quarter. Quadrant Capital Group LLC now owns 32,349 shares of the bank’s stock valued at $796,000 after buying an additional 903 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Old National Bancorp by 12.0% in the first quarter. Ritholtz Wealth Management now owns 10,477 shares of the bank’s stock worth $232,000 after buying an additional 1,126 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Old National Bancorp by 10.2% in the third quarter. GAMMA Investing LLC now owns 12,191 shares of the bank’s stock worth $300,000 after buying an additional 1,131 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

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 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

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.