Old National Bancorp
Market Cap
US$3.1b
Last Updated
2020/02/20 00:44 UTC
Data Sources
Company Financials +
Executive Summary
Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States.
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has Old National Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ONB has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.7%
ONB
-1.0%
US Banks
0.5%
US Market
1 Year Return
1.6%
ONB
10.6%
US Banks
20.3%
US Market
Return vs Industry: ONB underperformed the US Banks industry which returned 10.6% over the past year.
Return vs Market: ONB underperformed the US Market which returned 20.3% over the past year.
Shareholder returns
| ONB | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.7% | -1.0% | 0.5% |
| 30 Day | 1.4% | -1.2% | 2.0% |
| 90 Day | -0.2% | 0.4% | 9.4% |
| 1 Year | 4.7%1.6% | 13.8%10.6% | 22.8%20.3% |
| 3 Year | 4.8%-4.0% | 23.5%14.6% | 50.1%40.4% |
| 5 Year | 49.5%28.3% | 74.0%54.2% | 73.1%54.1% |
Price Volatility Vs. Market
How volatile is Old National Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall St
What Makes Old National Bancorp (NASDAQ:ONB) A Great Dividend Stock?2 weeks ago | Simply Wall St
Here's Why I Think Old National Bancorp (NASDAQ:ONB) Is An Interesting Stock1 month ago | Simply Wall St
Do Directors Own Old National Bancorp (NASDAQ:ONB) Shares?Valuation
Is Old National Bancorp undervalued compared to its fair value and its price relative to the market?
6.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ONB ($18.09) is trading below our estimate of fair value ($19.44)
Significantly Below Fair Value: ONB is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: ONB is poor value based on its PE Ratio (13.1x) compared to the Banks industry average (12.6x).
PE vs Market: ONB is good value based on its PE Ratio (13.1x) compared to the US market (18.3x).
Price to Earnings Growth Ratio
PEG Ratio: ONB is poor value based on its PEG Ratio (27.6x)
Price to Book Ratio
PB vs Industry: ONB is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is Old National Bancorp forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
0.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ONB's forecast earnings growth (0.5% per year) is below the savings rate (1.7%).
Earnings vs Market: ONB's earnings (0.5% per year) are forecast to grow slower than the US market (14.2% per year).
High Growth Earnings: ONB's earnings are forecast to grow, but not significantly.
Revenue vs Market: ONB's revenue (0.1% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: ONB's revenue (0.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ONB's Return on Equity is forecast to be low in 3 years time (8.1%).
Next Steps
Past Performance
How has Old National Bancorp performed over the past 5 years?
15.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ONB has high quality earnings.
Growing Profit Margin: ONB's current net profit margins (29.9%) are higher than last year (27.7%).
Past Earnings Growth Analysis
Earnings Trend: ONB's earnings have grown by 15.5% per year over the past 5 years.
Accelerating Growth: ONB's earnings growth over the past year (24.8%) exceeds its 5-year average (15.5% per year).
Earnings vs Industry: ONB earnings growth over the past year (24.8%) exceeded the Banks industry 12.3%.
Return on Equity
High ROE: ONB's Return on Equity (8.4%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Old National Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: ONB has a low level of unsold assets or inventory.
Debt Coverage by Assets: ONB's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: ONB's level of assets compared to its equity is low.
Allowance for Bad Loans: ONB has a low allowance for bad loans.
Low Risk Liabilities: ONB's liabilities are made up of primarily low risk sources of funding.
Loan Level: ONB has an acceptable proportion of non-loan assets held.
Low Risk Deposits: ONB's loans are broadly funded by customer deposits.
Level of Bad Loans: ONB has an appropriate level of bad loans (1.19%)
Next Steps
Dividend
What is Old National Bancorp's current dividend yield, its reliability and sustainability?
3.10%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: ONB's dividend (3.1%) is higher than the bottom 25% of dividend payers in the US market (1.44%).
High Dividend: ONB's dividend (3.1%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
Stable Dividend: ONB's dividends per share have been stable in the past 10 years.
Growing Dividend: ONB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (37.5%), ONB's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ONB's dividends in 3 years are forecast to be well covered by earnings (41.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.8yrs
Average management tenure
CEO
Jim Ryan (47yo)
0.8yrs
Tenure
US$1,183,668
Compensation
Mr. James C. Ryan III, also known as Jim, serves as Chairman of Old National Bancorp since January 30, 2020. Mr. Ryan has been Chief Executive Officer and Director of Old National Bancorp since May 2, 2019 ...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD1.18M) is below average for companies of similar size in the US market ($USD4.89M).
Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 0.8yrs | US$1.18m | 0.063% $1.9m | |
| President & COO | 3.8yrs | US$1.33m | 0.058% $1.8m | |
| Chief Legal Counsel & Executive VP | 15.2yrs | US$822.25k | 0.047% $1.4m | |
| Community Banking Chief Executive Officer | 0.08yrs | US$783.78k | 0.040% $1.2m | |
| Senior EVP & CFO | 0.8yrs | no data | 0.0095% $291.4k | |
| Senior VP | 3yrs | no data | 0.0023% $70.9k | |
| Chief Information Officer | 0.08yrs | no data | 0.020% $610.4k | |
| Chief Administrative Officer | 0.08yrs | no data | 0.028% $868.8k | |
| Senior VP & Director of Investor Relations | 0yrs | no data | no data | |
| Chief People Officer | 0.08yrs | no data | no data |
0.8yrs
Average Tenure
51yo
Average Age
Experienced Management: ONB's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 0.8yrs | US$1.18m | 0.063% $1.9m | |
| Independent Director | 20.1yrs | US$110.98k | 0.029% $889.3k | |
| Independent Director | 5.7yrs | US$92.48k | 0.18% $5.5m | |
| Independent Director | 30.1yrs | US$107.48k | 0.093% $2.8m | |
| Independent Director | 32.1yrs | US$100.98k | 0.26% $8.1m | |
| Independent Director | 11.3yrs | US$99.98k | 0.0036% $110.1k | |
| Independent Director | 4.5yrs | US$94.73k | 0.0014% $41.6k | |
| Independent Director | 7.6yrs | US$90.98k | 0.017% $534.3k | |
| Independent Director | 4.7yrs | US$99.23k | 0.0039% $120.5k | |
| Lead Director | 3.8yrs | US$125.98k | 0.012% $356.0k |
6.6yrs
Average Tenure
69yo
Average Age
Experienced Board: ONB's board of directors are considered experienced (6.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.4%.
Top Shareholders
Company Information
Old National Bancorp's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Old National Bancorp
- Ticker: ONB
- Exchange: NasdaqGS
- Founded: 1834
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$3.058b
- Shares outstanding: 169.05m
- Website: https://www.oldnational.com
Number of Employees
Location
- Old National Bancorp
- One Main Street
- Evansville
- Indiana
- 47708
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ONB | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jun 1984 |
| ON1 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jun 1984 |
Biography
Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and offers loans, such as home equity lines of credit, residential real estate loans, consumer loans, commercial loans, commercial real estate loans, letters of credit, and lease financing. It also provides debit and ATM cards, telephone access, and online banking, as well as other electronic and mobile banking services; cash management, private banking, brokerage, trust, and investment advisory services; wealth management, investment, and foreign currency services; and treasury management, merchant, health savings, and capital markets services, as well as community development lending and equity investment solutions. As of December 31, 2019, the company operated 192 banking centers located primarily in Indiana, Kentucky, Michigan, Wisconsin, and Minnesota. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/20 00:44 |
| End of Day Share Price | 2020/02/19 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.