Old National Bancorp (NASDAQ:ONB) Given New $28.00 Price Target at Truist Financial

Old National Bancorp (NASDAQ:ONB) had its target price raised by analysts at Truist Financial from $27.00 to $28.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s price objective suggests a potential upside of 16.57% from the company’s current price.

A number of other analysts also recently issued reports on the stock. UBS Group reaffirmed a “neutral” rating and set a $26.00 price objective on shares of Old National Bancorp in a report on Wednesday, February 4th. National Bank Financial set a $30.00 price objective on shares of Old National Bancorp in a report on Thursday, January 22nd. TD Cowen raised shares of Old National Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $27.00 to $30.00 in a research note on Thursday, January 22nd. Barclays boosted their price target on shares of Old National Bancorp from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Old National Bancorp in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.70.

Old National Bancorp Stock Up 1.1%

Shares of NASDAQ:ONB opened at $24.02 on Thursday. The firm has a fifty day moving average price of $22.99 and a two-hundred day moving average price of $22.56. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.93 and a quick ratio of 0.93. Old National Bancorp has a one year low of $19.39 and a one year high of $26.17. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 13.42 and a beta of 0.83.

Old National Bancorp (NASDAQ:ONB) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. Old National Bancorp had a net margin of 17.91% and a return on equity of 10.75%. The firm had revenue of $702.69 million during the quarter, compared to the consensus estimate of $706.62 million. During the same period last year, the firm earned $0.45 EPS. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. Analysts anticipate that Old National Bancorp will post 2.58 EPS for the current fiscal year.

Insider Activity

In other Old National Bancorp news, insider Nicholas J. Chulos sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $25.05, for a total value of $751,500.00. Following the transaction, the insider owned 20,438 shares in the company, valued at approximately $511,971.90. The trade was a 59.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Old National Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of ONB. Vanguard Group Inc. increased its position in shares of Old National Bancorp by 10.1% during the third quarter. Vanguard Group Inc. now owns 36,813,066 shares of the bank’s stock valued at $808,047,000 after buying an additional 3,379,577 shares during the period. Norges Bank purchased a new position in shares of Old National Bancorp during the fourth quarter valued at about $72,661,000. Morgan Stanley increased its position in shares of Old National Bancorp by 69.8% during the fourth quarter. Morgan Stanley now owns 6,776,716 shares of the bank’s stock valued at $151,189,000 after buying an additional 2,785,474 shares during the period. First Trust Advisors LP increased its position in shares of Old National Bancorp by 104.6% during the third quarter. First Trust Advisors LP now owns 5,227,241 shares of the bank’s stock valued at $114,738,000 after buying an additional 2,672,319 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Old National Bancorp by 65.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,956,160 shares of the bank’s stock valued at $110,572,000 after buying an additional 1,966,958 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Key Old National Bancorp News

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

• Positive Sentiment: Q1 operating beat and efficiency — ONB reported $0.61 EPS (beat) and a record efficiency ratio of 45.7%, with 8% annualized loan growth, a $5.5B commercial pipeline and falling deposit costs, signaling healthy core franchise momentum. Old National Bank: Very Efficient, But Expensive
• Positive Sentiment: Analyst reaction — Jefferies raised its price target to $25 (from $23) and kept a Hold rating, giving the stock incremental support from the sell-side. Old National Bancorp PT Raised to $25 at Jefferies
• Neutral Sentiment: Earnings call color — Management emphasized confident growth across its Midwest and Southeast footprint and reiterated pipeline/delivery plans; read the full transcript for forward commentary and capital/deployment details. Old National Bancorp (ONB) Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Market summaries and metrics — Several outlets provide detailed metric comparisons vs. estimates and year-ago periods (useful for modeling loan yields, deposit trends, and expense outlook). ONB Q1 Earnings: Key Metrics Versus Estimates
• Negative Sentiment: Top-line and margin pressure — Revenue slightly missed expectations ($702.7M vs. est. $706.6M) and net interest margin compressed ~10 bps to 3.55%, which tempers the beat and could cap near-term upside if NIM trends continue. Old National Bank (NASDAQ:ONB) Misses Q1 CY2026 Revenue Estimates

Old National Bancorp Company Profile

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.