| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 5/6 |
| Past Performance | 2/6 |
| Financial Health | 6/6 |
| Dividends | 4/6 |
ONB Stock Overview
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.
Old National Bancorp Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$18.09 |
| 52 Week High | US$20.81 |
| 52 Week Low | US$14.22 |
| Beta | 0.85 |
| 1 Month Change | 18.47% |
| 3 Month Change | 14.21% |
| 1 Year Change | 9.11% |
| 3 Year Change | 5.73% |
| 5 Year Change | 11.67% |
| Change since IPO | 119.38% |
Recent News & Updates
Old National Bancorp Non-GAAP EPS of $0.46 beats by $0.07, revenue of $430.9M beats by $39.55M
Old National Bancorp press release (NASDAQ:ONB): Q2 Non-GAAP EPS of $0.46 beats by $0.07. Revenue of $430.9M (+110.3% Y/Y) beats by $39.55M.
Old National Bancorp: Old But May Become Gold
Old National Bancorp remains well-positioned following its recent acquisition of First Midwest. Inflationary pressures may become a driving force for Old National Bancorp and FMBI. The competition in the banking industry is becoming even tighter. It must do more than just increase its market visibility. The stock price is in a slight uptrend with potential undervaluation.
Shareholder Returns
| ONB | US Banks | US Market | |
|---|---|---|---|
| 7D | 4.9% | 6.1% | 3.6% |
| 1Y | 9.1% | -10.2% | -9.6% |
Return vs Industry: ONB exceeded the US Banks industry which returned -10.9% over the past year.
Return vs Market: ONB exceeded the US Market which returned -10.2% over the past year.
Price Volatility
| ONB volatility | |
|---|---|
| ONB Average Weekly Movement | 3.5% |
| Banks Industry Average Movement | 3.7% |
| Market Average Movement | 7.7% |
| 10% most volatile stocks in US Market | 16.9% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: ONB is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: ONB's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1834 | 4,196 | Jim Ryan | https://www.oldnational.com |
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. It accepts deposit accounts, including noninterest-bearing demand, interest-bearing checking, negotiable order of withdrawal, 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. The company also provides debit and automated teller machine cards, telephone access, online banking, and other electronic and mobile banking services; cash management, private banking, brokerage, trust, investment advisory, and other traditional banking 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.
Old National Bancorp Fundamentals Summary
| ONB fundamental statistics | |
|---|---|
| Market Cap | US$5.25b |
| Earnings (TTM) | US$209.28m |
| Revenue (TTM) | US$1.01b |
25.3x
P/E Ratio1.1x
P/B RatioIs ONB overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ONB income statement (TTM) | |
|---|---|
| Revenue | US$1.01b |
| Cost of Revenue | US$0 |
| Gross Profit | US$1.01b |
| Other Expenses | US$802.60m |
| Earnings | US$209.28m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.71 |
| Gross Margin | 100.00% |
| Net Profit Margin | 20.68% |
| Debt/Equity Ratio | 90.5% |
How did ONB perform over the long term?
See historical performance and comparisonDividends
3.1%
Current Dividend Yield57%
Payout RatioValuation
Is ONB undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for ONB?
Other financial metrics that can be useful for relative valuation.
| What is ONB's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$5.25b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | 0.4x |
Price to Earnings Ratio vs Peers
How does ONB's PE Ratio compare to its peers?
| ONB PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 20.1x | ||
HOMB Home Bancshares (Conway AR) | 22.7x | 45.6% | US$5.2b |
OZK Bank OZK | 9.4x | 1.4% | US$5.1b |
WTFC Wintrust Financial | 13.5x | 16.2% | US$5.4b |
FIBK First Interstate BancSystem | 34.6x | 50.8% | US$4.5b |
ONB Old National Bancorp | 25.3x | 66.2% | US$5.2b |
Price-To-Earnings vs Peers: ONB is expensive based on its Price-To-Earnings Ratio (25.3x) compared to the peer average (20.1x).
Price to Earnings Ratio vs Industry
How does ONB's PE Ratio compare vs other companies in the US Banks Industry?
Price-To-Earnings vs Industry: ONB is expensive based on its Price-To-Earnings Ratio (25.3x) compared to the US Banks industry average (10.1x)
Price to Earnings Ratio vs Fair Ratio
What is ONB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 25.3x |
| Fair PE Ratio | 36.5x |
Price-To-Earnings vs Fair Ratio: ONB is good value based on its Price-To-Earnings Ratio (25.3x) compared to the estimated Fair Price-To-Earnings Ratio (36.5x).
Share Price vs Fair Value
What is the Fair Price of ONB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: ONB ($18.09) is trading below our estimate of fair value ($35.1)
Significantly Below Fair Value: ONB is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is less than 20% higher than the current share price.
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Future Growth
How is Old National Bancorp forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Future Growth Score
5/6Future Growth Score 5/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
66.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ONB's forecast earnings growth (66.2% per year) is above the savings rate (1.9%).
Earnings vs Market: ONB's earnings (66.2% per year) are forecast to grow faster than the US market (14.5% per year).
High Growth Earnings: ONB's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ONB's revenue (20.4% per year) is forecast to grow faster than the US market (7.9% per year).
High Growth Revenue: ONB's revenue (20.4% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if ONB's Return on Equity is forecast to be high in 3 years time
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Past Performance
How has Old National Bancorp performed over the past 5 years?
Past Performance Score
2/6Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
14.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ONB has high quality earnings.
Growing Profit Margin: ONB's current net profit margins (20.7%) are lower than last year (35.8%).
Past Earnings Growth Analysis
Earnings Trend: ONB's earnings have grown by 14.6% per year over the past 5 years.
Accelerating Growth: ONB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ONB had negative earnings growth (-30.6%) over the past year, making it difficult to compare to the Banks industry average (8.8%).
Return on Equity
High ROE: ONB's Return on Equity (4.2%) is considered low.
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Financial Health
How is Old National Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Health Score
6/6Financial Health Score 6/6
Asset Level
Allowance for Bad Loans
Low Risk Liabilities
Loan Level
Low Risk Deposits
Level of Bad Loans
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: ONB's Assets to Equity ratio (9x) is low.
Allowance for Bad Loans: ONB has a sufficient allowance for bad loans (125%).
Low Risk Liabilities: 87% of ONB's liabilities are made up of primarily low risk sources of funding.
Loan Level: ONB has an appropriate level of Loans to Assets ratio (64%).
Low Risk Deposits: ONB's Loans to Deposits ratio (82%) is appropriate.
Level of Bad Loans: ONB has an appropriate level of bad loans (0.8%).
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Dividend
What is Old National Bancorp current dividend yield, its reliability and sustainability?
Dividend Score
4/6Dividend Score 4/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
3.10%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ONB's dividend (3.1%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: ONB's dividend (3.1%) is low compared to the top 25% of dividend payers in the US market (3.95%).
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
Earnings Coverage: With its reasonable payout ratio (56.8%), ONB's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.
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Management
How experienced are the management team and are they aligned to shareholders interests?
0.5yrs
Average management tenure
CEO
Jim Ryan (50 yo)
3.25yrs
Tenure
US$3,971,101
Compensation
Mr. James C. Ryan III, also known as Jim, served as Chairman of Old National Bancorp since January 30, 2020 until February 15, 2022. Mr. Ryan has been Chief Executive Officer and Director of Old National B...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD3.97M) is below average for companies of similar size in the US market ($USD8.19M).
Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: ONB's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.
Board Members
Experienced Board: ONB's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
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 substantially diluted in the past year, with total shares outstanding growing by 76.7%.
Top Shareholders
Company Information
Old National Bancorp's employee growth, exchange listings and data sources
Key Information
- Name: Old National Bancorp
- Ticker: ONB
- Exchange: NasdaqGS
- Founded: 1834
- Industry: Regional Banks
- Sector: Banks
- Implied Market Cap: US$5.246b
- Shares outstanding: 292.89m
- Website: https://www.oldnational.com
Number of Employees
Location
- Old National Bancorp
- One Main Street
- Evansville
- Indiana
- 47708
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/15 00:00 |
| End of Day Share Price | 2022/08/15 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
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.