NasdaqGS:ONB

Stock Analysis Report

Executive Summary

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States.

Snowflake

Fundamentals

Excellent balance sheet with proven track record.


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


Market Performance


7 Day Return

2.5%

NasdaqGS:ONB

3.3%

US Banks

2.1%

US Market


1 Year Return

-15.7%

NasdaqGS:ONB

-13.8%

US Banks

-0.04%

US Market

ONB matched the Banks industry (-14.8%) over the past year.

ONB underperformed the Market in United States of America which returned 0.2% over the past year.


Share holder returns

ONBIndustryMarket
7 Day2.5%3.3%2.1%
30 Day-2.0%-7.0%-3.2%
90 Day2.2%-2.3%2.8%
1 Year-13.3%-15.7%-11.3%-13.8%2.2%-0.04%
3 Year34.0%22.4%42.5%32.7%41.5%32.3%
5 Year51.1%29.5%54.2%37.6%55.0%37.8%

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

Valuation

Is Old National Bancorp undervalued based on future cash flows and its price relative to the stock market?

12.98x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Old National Bancorp's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Old National Bancorp's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Old National Bancorp is overvalued based on earnings compared to the US Banks industry average.

Old National Bancorp is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Old National Bancorp is poor value based on expected growth next year.


Price Based on Value of Assets

Old National Bancorp is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is Old National Bancorp expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Old National Bancorp's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).

Old National Bancorp's earnings are expected to grow by 3% yearly, however this is not considered high growth (20% yearly).

Old National Bancorp's revenue growth is positive but not above the United States of America market average.

Old National Bancorp's earnings growth is positive but not above the United States of America market average.

Old National Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Old National Bancorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Old National Bancorp performed over the past 5 years?

12.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Old National Bancorp's year on year earnings growth rate has been positive over the past 5 years.

Old National Bancorp's 1-year earnings growth exceeds its 5-year average (93.2% vs 12.2%)

Old National Bancorp's earnings growth has exceeded the US Banks industry average in the past year (93.2% vs 33.2%).


Return on Equity

Old National Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Old National Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Old National Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


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

Information is not available.

Information is not available.


Financial Institutions Analysis

Old National Bancorp has an acceptable proportion of non-loan assets held.

Old National Bancorp has a low allowance for bad loans.

Old National Bancorp's liabilities are made up of primarily low risk sources of funding.

Old National Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at Old National Bancorp are broadly funded by customer deposits.

Old National Bancorp has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is Old National Bancorp's current dividend yield, its reliability and sustainability?

3.35%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase Old National Bancorp before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Old National Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Old National Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).


Next Steps

Management

What is the CEO of Old National Bancorp's salary, the management and board of directors tenure and is there insider trading?

2.5yrs

Average management tenure


CEO

Jim Ryan (47yo)

0.3yrs

Tenure

US$1,183,668

Compensation

Mr. James C. Ryan III, also known as Jim, has been Chief Executive Officer and Director of Old National Bancorp since May 2, 2019. He served as Chief Financial Officer and Senior Executive Vice President a ...


CEO Compensation Analysis

Jim's remuneration is lower than average for companies of similar size in United States of America.

Jim's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.5yrs

Average Tenure

52yo

Average Age

The tenure for the Old National Bancorp management team is about average.


Board Age and Tenure

8.9yrs

Average Tenure

69yo

Average Age

The tenure for the Old National Bancorp board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

SellUS$171,50001 May 19
Daryl Moore
EntityIndividual
Role
Senior Key Executive
Senior EVP & Chief Credit Executive
Shares10,000
Max PriceUS$17.15
BuyUS$22,76524 Oct 18
James Ryan
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares1,300
Max PriceUS$17.60

Ownership Breakdown


Management Team

  • Daryl Moore (61yo)

    Senior EVP & Chief Credit Executive

    • Tenure: 18.6yrs
    • Compensation: US$772.41k
  • Jeffrey Knight (59yo)

    Executive VP

    • Tenure: 14.7yrs
    • Compensation: US$822.25k
  • Mike Woods (51yo)

    Senior VP

    • Tenure: 2.5yrs
  • Todd Clark (49yo)

    Executive VP and Chief Information & Strategic Innovation Officer

    • Tenure: 2.3yrs
    • Compensation: US$783.78k
  • Jim Ryan (47yo)

    CEO & Director

    • Tenure: 0.3yrs
    • Compensation: US$1.18m
  • Lynell Walton

    Senior VP & Director of Investor Relations

    • Tenure: 0.0yrs
  • Jim Sandgren (52yo)

    President & COO

    • Tenure: 3.3yrs
    • Compensation: US$1.33m
  • Kendra Vanzo (52yo)

    Executive VP & Chief People Officer

    • Tenure: 1.0yrs
  • Julie Williams Daugherty (59yo)

    Chief Administrative Officer & Executive VP

    • Tenure: 5.2yrs
  • Brendon Falconer

    CFO, Senior VP & Treasurer

    • Tenure: 0.3yrs

Board Members

  • Bob Jones (62yo)

    Chairman

    • Tenure: 14.9yrs
    • Compensation: US$3.00m
  • Andrew Goebel (72yo)

    Director

    • Tenure: 19.6yrs
    • Compensation: US$110.98k
  • Phelps Lambert (71yo)

    Director

    • Tenure: 29.6yrs
    • Compensation: US$107.48k
  • Alan Braun (74yo)

    Director

    • Tenure: 31.6yrs
    • Compensation: US$100.98k
  • Linda White (69yo)

    Director

    • Tenure: 10.8yrs
    • Compensation: US$99.98k
  • Jim Ryan (47yo)

    CEO & Director

    • Tenure: 0.3yrs
    • Compensation: US$1.18m
  • Joan Kissel (51yo)

    Executive VP

    • Tenure: 2.3yrs
  • Randall Shepard (72yo)

    Director

    • Tenure: 7.1yrs
    • Compensation: US$90.98k
  • Derrick Stewart (41yo)

    Director

    • Tenure: 4.2yrs
    • Compensation: US$99.23k
  • Becky Skillman (69yo)

    Lead Director

    • Tenure: 3.3yrs
    • Compensation: US$125.98k

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$2.924b
  • Shares outstanding: 172.23m
  • Website: https://www.oldnational.com

Number of Employees


Location

  • Old National Bancorp
  • One Main Street
  • Evansville
  • Indiana
  • 47708
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ONBNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 1984
ON1DB (Deutsche Boerse AG)YesCommon StockDEEURJun 1984

Biography

Old National Bancorp operates as the holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. The company offers deposit a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/22 23:40
End of Day Share Price2019/08/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.