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Old National Bancorp

Nasdaq:ONB
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ONB
Nasdaq
$3B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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 last earnings update was 17 days ago. More info.


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ONB Share Price and Events
7 Day Returns
0.5%
NasdaqGS:ONB
-2.6%
US Banks
-1%
US Market
1 Year Returns
-14%
NasdaqGS:ONB
-14.2%
US Banks
-0.4%
US Market
ONB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Old National Bancorp (ONB) 0.5% 1.5% 1.4% -14% 22.8% 28.3%
US Banks -2.6% -5.5% -3.5% -14.2% 32.4% 36.7%
US Market -1% -3.3% 0.4% -0.4% 30.4% 37.1%
1 Year Return vs Industry and Market
  • ONB matched the Banks industry (-14.2%) over the past year.
  • ONB underperformed the Market in United States of America which returned -0.4% over the past year.
Price Volatility
ONB
Industry
5yr Volatility vs Market

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Old National Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Old National Bancorp.

NasdaqGS:ONB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= $17.20 * 8.5%
$1.46
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. $17.20
Discount Rate (Cost of Equity) See below 10%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:ONB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.566 (1 + (1- 21%) (97.53%))
1.214
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.21
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.214 * 5.96%)
9.97%

Discounted Cash Flow Calculation for NasdaqGS:ONB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Old National Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:ONB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.5% – 9.97%) * $17.20)
$-0.26
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.26 / (9.97% - 2.73%)
$-3.55
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.20 + $-3.55
$13.64
NasdaqGS:ONB Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.64
Current discount Discount to share price of $16.98
= -1 x ($16.98 - $13.64) / $13.64
-24.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Old National Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Old National Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Old National Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:ONB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.31
NasdaqGS:ONB Share Price ** NasdaqGS (2019-08-16) in USD $16.98
United States of America Banks Industry PE Ratio Median Figure of 597 Publicly-Listed Banks Companies 12.29x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Old National Bancorp.

NasdaqGS:ONB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ONB Share Price ÷ EPS (both in USD)

= 16.98 ÷ 1.31

12.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
Does Old National Bancorp's expected growth come at a high price?
Raw Data
NasdaqGS:ONB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
3%per year
United States of America Banks Industry PEG Ratio Median Figure of 274 Publicly-Listed Banks Companies 1.12x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

NasdaqGS:ONB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.98x ÷ 3%

4.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Old National Bancorp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Old National Bancorp's assets?
Raw Data
NasdaqGS:ONB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $16.28
NasdaqGS:ONB Share Price * NasdaqGS (2019-08-16) in USD $16.98
United States of America Banks Industry PB Ratio Median Figure of 600 Publicly-Listed Banks Companies 1.16x
United States of America Market PB Ratio Median Figure of 5,265 Publicly-Listed Companies 1.7x
NasdaqGS:ONB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ONB Share Price ÷ Book Value per Share (both in USD)

= 16.98 ÷ 16.28

1.04x

* Primary Listing of Old National Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Old National Bancorp is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess Old National Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Old National Bancorp has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Old National Bancorp expected to grow at an attractive rate?
  • Old National Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Old National Bancorp's earnings growth is positive but not above the United States of America market average.
  • Old National Bancorp's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:ONB Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:ONB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 3%
NasdaqGS:ONB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 2.4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.5%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:ONB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:ONB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 841 253 1
2020-12-31 815 240 7
2019-12-31 808 237 7
NasdaqGS:ONB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 750 204 218
2019-03-31 712 227 199
2018-12-31 689 234 191
2018-09-30 654 242 125
2018-06-30 641 229 113
2018-03-31 627 182 108
2017-12-31 606 250 96
2017-09-30 630 203 148
2017-06-30 629 155 143
2017-03-31 626 187 143
2016-12-31 613 25 134
2016-09-30 584 124 133

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • 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 is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:ONB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Old National Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ONB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.46 1.46 1.46 1.00
2020-12-31 1.40 1.50 1.34 9.00
2019-12-31 1.37 1.39 1.35 9.00
NasdaqGS:ONB Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.31
2019-03-31 1.23
2018-12-31 1.23
2018-09-30 0.83
2018-06-30 0.77
2018-03-31 0.76
2017-12-31 0.69
2017-09-30 1.09
2017-06-30 1.06
2017-03-31 1.08
2016-12-31 1.05
2016-09-30 1.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Old National Bancorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Old National Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Old National Bancorp has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Old National Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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%).
Earnings and Revenue History
Old National Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Old National Bancorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ONB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 749.71 218.09 449.31
2019-03-31 711.78 199.12 438.86
2018-12-31 689.00 190.83 428.48
2018-09-30 653.76 124.84 410.98
2018-06-30 641.47 112.86 403.73
2018-03-31 626.77 107.72 392.23
2017-12-31 605.77 95.73 380.82
2017-09-30 629.58 147.67 375.82
2017-06-30 628.79 143.01 381.19
2017-03-31 626.08 143.28 392.53
2016-12-31 612.71 134.26 392.44
2016-09-30 584.07 132.79 369.68
2016-06-30 571.65 135.75 362.00
2016-03-31 566.91 122.79 355.29
2015-12-31 578.20 116.72 371.63
2015-09-30 572.09 113.98 372.86
2015-06-30 570.96 105.45 372.80
2015-03-31 550.69 98.06 364.48
2014-12-31 528.40 103.67 345.65
2014-09-30 511.46 98.97 332.72
2014-06-30 498.74 93.78 326.55
2014-03-31 503.34 103.49 317.19
2013-12-31 501.61 100.92 316.32
2013-09-30 512.33 99.38 319.05
2013-06-30 499.48 95.17 317.37
2013-03-31 494.47 93.90 316.30
2012-12-31 493.54 91.68 311.70
2012-09-30 484.80 90.88 313.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Old National Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Old National Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • 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.
X
Past performance checks
We assess Old National Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Old National Bancorp has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Old National Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Old National Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Old National Bancorp Company Filings, last reported 1 month ago.

NasdaqGS:ONB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 2,803.14 2,733.95 362.09
2019-03-31 2,751.87 2,643.15 363.07
2018-12-31 2,689.57 2,501.08 238.07
2018-09-30 2,220.68 2,595.05 309.12
2018-06-30 2,200.22 2,545.97 294.46
2018-03-31 2,179.12 2,385.66 298.13
2017-12-31 2,154.40 2,589.11 197.95
2017-09-30 1,906.82 2,424.50 274.99
2017-06-30 1,886.59 2,274.92 284.78
2017-03-31 1,846.36 2,084.35 238.72
2016-12-31 1,814.42 2,171.57 189.30
2016-09-30 1,834.46 2,067.98 298.02
2016-06-30 1,811.12 1,989.47 308.97
2016-03-31 1,508.64 1,700.92 202.32
2015-12-31 1,491.17 1,943.18 171.08
2015-09-30 1,476.00 1,627.46 197.96
2015-06-30 1,456.72 1,619.81 217.50
2015-03-31 1,483.27 1,360.76 241.25
2014-12-31 1,465.76 1,489.68 194.32
2014-09-30 1,407.18 1,381.38 253.12
2014-06-30 1,277.33 1,387.45 260.88
2014-03-31 1,185.24 931.94 238.48
2013-12-31 1,162.64 1,034.29 181.28
2013-09-30 1,159.26 1,071.05 274.97
2013-06-30 1,166.98 1,431.76 246.88
2013-03-31 1,199.67 1,202.73 189.21
2012-12-31 1,194.57 853.11 255.07
2012-09-30 1,186.76 769.39 260.99
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Old National Bancorp has an acceptable proportion of non-loan assets held.
  • Old National Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Old National Bancorp are broadly funded by customer deposits.
  • Old National Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Old National Bancorp has a low allowance for bad loans.
  • Old National Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Old National Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Old National Bancorp has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.06%
Current annual income from Old National Bancorp dividends. Estimated to be 3.35% next year.
If you bought $2,000 of Old National Bancorp shares you are expected to receive $61 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 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%).
Upcoming dividend payment

Purchase Old National Bancorp before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:ONB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:ONB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.64 1.00
2020-12-31 0.59 8.00
2019-12-31 0.54 8.00
NasdaqGS:ONB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-01 0.520 3.086
2019-05-02 0.520 3.110
2019-01-24 0.520 3.076
2018-10-25 0.520 3.071
2018-07-26 0.520 2.652
2018-04-26 0.520 2.826
2018-01-25 0.520 3.004
2017-10-26 0.520 2.918
2017-07-27 0.520 3.042
2017-04-27 0.520 3.097
2017-01-26 0.520 2.957
2017-01-24 0.520 2.900
2016-11-04 0.520 3.003
2016-10-31 0.520 3.609
2016-08-05 0.520 3.730
2016-08-01 0.520 3.911
2016-01-28 0.520 4.225
2015-07-27 0.480 3.483
2015-04-27 0.480 3.390
2015-01-22 0.480 3.429
2014-10-27 0.440 3.054
2014-08-01 0.440 3.367
2014-07-28 0.440 3.261
2014-01-23 0.440 3.131
2013-10-28 0.400 2.664
2013-08-02 0.400 2.849
2013-07-29 0.400 2.765
2013-01-24 0.400 2.961
2012-10-31 0.360 2.990
2012-07-30 0.360 2.716
2012-04-30 0.360 3.030
2012-01-26 0.360 2.880
2011-10-31 0.280 2.422
2011-08-01 0.280 2.833
2011-05-02 0.280 2.628
2011-01-27 0.280 2.579
2010-11-01 0.280 2.560
2010-07-26 0.280 2.782
2010-02-01 0.280 2.408
2009-10-26 0.280 2.422
2009-07-27 0.280 2.580
2009-04-27 0.280 2.502
2009-01-22 0.920 7.575
2008-10-23 0.920 5.643

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
What portion of Old National Bancorp's earnings are paid to the shareholders as a dividend.
  • 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).
X
Income/ dividend checks
We assess Old National Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Old National Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Old National Bancorp has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Ryan
COMPENSATION $1,183,668
AGE 47
TENURE AS CEO 0.3 years
CEO Bio

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 at Old National Bancorp since May 12, 2016 until May 2, 2019. Mr. Ryan serves as the Chief Financial Officer of Old National Bank. He served as Executive Vice President and Director of Corporate Development and Mortgage Banking at Old National Bancorp until May 12, 2016 and Old National Bank from July 2009 until 2016. Mr. Ryan served as Senior Vice President of Old National Bancorp., from March 2005 to July 2009, Integration Executive from December 2006 to July 2009, Director of Corporate Development from July 2009 to February 2015, Treasurer from March 2005 to December 2006 and also served as its Assistant Treasurer. He served as Vice President at Wells Fargo Home Mortgage from July 2004 to March 2005, overseeing pricing in the finance group. He is chairing the 2011 United Way Business Development Campaign and serves as a Member of the University of Evansville's Schroeder Family School of Business Administration Business Advisory Board.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jim's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Old National Bancorp management team in years:

2.5
Average Tenure
52
Average Age
  • The tenure for the Old National Bancorp management team is about average.
Management Team

Jim Ryan

TITLE
CEO & Director
COMPENSATION
$1M
AGE
47
TENURE
0.3 yrs

Jim Sandgren

TITLE
President & COO
COMPENSATION
$1M
AGE
52
TENURE
3.3 yrs

Todd Clark

TITLE
Executive VP and Chief Information & Strategic Innovation Officer
COMPENSATION
$784K
AGE
49
TENURE
2.3 yrs

Jeffrey Knight

TITLE
Executive VP
COMPENSATION
$822K
AGE
59
TENURE
14.7 yrs

Brendon Falconer

TITLE
CFO, Senior VP & Treasurer
TENURE
0.3 yrs

Mike Woods

TITLE
Senior VP
AGE
51
TENURE
2.5 yrs

Julie Williams Daugherty

TITLE
Chief Administrative Officer & Executive VP
AGE
59
TENURE
5.2 yrs

Lynell Walton

TITLE
Senior VP & Director of Investor Relations

Kendra Vanzo

TITLE
Executive VP & Chief People Officer
AGE
52
TENURE
1 yrs

Daryl Moore

TITLE
Senior EVP & Chief Credit Executive
COMPENSATION
$772K
AGE
61
TENURE
18.6 yrs
Board of Directors Tenure

Average tenure and age of the Old National Bancorp board of directors in years:

8.9
Average Tenure
69
Average Age
  • The tenure for the Old National Bancorp board of directors is about average.
Board of Directors

Joan Kissel

TITLE
Executive VP
AGE
51
TENURE
2.3 yrs

Phelps Lambert

TITLE
Director
COMPENSATION
$107K
AGE
71
TENURE
29.6 yrs

Jim Ryan

TITLE
CEO & Director
COMPENSATION
$1M
AGE
47
TENURE
0.3 yrs

Andrew Goebel

TITLE
Director
COMPENSATION
$111K
AGE
72
TENURE
19.6 yrs

Alan Braun

TITLE
Director
COMPENSATION
$101K
AGE
74
TENURE
31.6 yrs

Linda White

TITLE
Director
COMPENSATION
$100K
AGE
69
TENURE
10.8 yrs

Becky Skillman

TITLE
Lead Director
COMPENSATION
$126K
AGE
69
TENURE
3.3 yrs

Derrick Stewart

TITLE
Director
COMPENSATION
$99K
AGE
41
TENURE
4.2 yrs

Bob Jones

TITLE
Chairman
COMPENSATION
$3M
AGE
62
TENURE
14.9 yrs

Randall Shepard

TITLE
Director
COMPENSATION
$91K
AGE
72
TENURE
7.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. May 19 Sell Daryl Moore Individual 30. Apr 19 30. Apr 19 -10,000 $17.15 $-171,500
24. Oct 18 Buy James Ryan Individual 24. Oct 18 24. Oct 18 1,300 $17.60 $22,765
X
Management checks
We assess Old National Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Old National Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Introducing Old National Bancorp (NASDAQ:ONB), A Stock That Climbed 26% In The Last Five Years

Furthermore, you'd generally like to see the share price rise faster than the market Unfortunately for shareholders, while the Old National Bancorp (NASDAQ:ONB) share price is up 26% in the last five years, that's less than the market return. … See our latest analysis for Old National Bancorp To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … We note that for Old National Bancorp the TSR over the last 5 years was 48%, which is better than the share price return mentioned above.

Simply Wall St -

Do Institutions Own Shares In Old National Bancorp (NASDAQ:ONB)?

See our latest analysis for Old National Bancorp NasdaqGS:ONB Ownership Summary, July 19th 2019 What Does The Institutional Ownership Tell Us About Old National Bancorp? … We can see that Old National Bancorp does have institutional investors; and they hold 65% of the stock. … Insider Ownership Of Old National Bancorp The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

How Many Old National Bancorp (NASDAQ:ONB) Shares Have Insiders Sold, In The Last Year?

So before you buy or sell Old National Bancorp (NASDAQ:ONB), you may well want to know whether insiders have been buying or selling. … Check out our latest analysis for Old National Bancorp The Last 12 Months Of Insider Transactions At Old National Bancorp The Senior EVP & Chief Credit Executive, Daryl Moore, made the biggest insider sale in the last 12 months. … So What Do The Old National Bancorp Insider Transactions Indicate?

Simply Wall St -

How Many Old National Bancorp (NASDAQ:ONB) Shares Have Insiders Sold, In The Last Year?

So before you buy or sell Old National Bancorp (NASDAQ:ONB), you may well want to know whether insiders have been buying or selling. … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' Check out our latest analysis for Old National Bancorp Old National Bancorp Insider Transactions Over The Last Year The Senior EVP & Chief Credit Executive, Daryl Moore, made the biggest insider sale in the last 12 months. … Does Old National Bancorp Boast High Insider Ownership?

Simply Wall St -

Old National Bancorp (NASDAQ:ONB) Has Got What It Takes To Be An Attractive Dividend Stock

Today we'll take a closer look at Old National Bancorp (NASDAQ:ONB) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. In this case, Old National Bancorp likely looks attractive to investors, given its 3.2% dividend yield and a payment history of over ten years. It would not be a surprise to discover that many investors buy it for the dividends. The company also bought back stock during the year, equivalent to approximately 0.9% of the company's market capitalisation at the time. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … Dividend Growth Potential While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. Earnings have grown at around 4.2% a year for the past five years, which is better than seeing them shrink! Old National Bancorp is paying out less than half of its earnings, which we like. Earnings per share growth have grown slowly, which is not great, but if the retained earnings can be reinvested effectively, future growth may be stronger. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings growth has been limited, but we like that the dividend payments have been fairly consistent.

Simply Wall St -

What Is Old National Bancorp's (NASDAQ:ONB) Share Price Doing?

It’s trading around 5.82% above my intrinsic value, which means if you buy Old National Bancorp today, you’d be paying a relatively fair price for it. … In addition to this, Old National Bancorp has a low beta, which suggests its share price is less volatile than the wider market. … It seems like the market has already priced in ONB’s positive outlook, with shares trading around its fair value.

Simply Wall St -

Is Now The Time To Put Old National Bancorp (NASDAQ:ONB) On Your Watchlist?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Old National Bancorp (NASDAQ:ONB). … See our latest analysis for Old National Bancorp Old National Bancorp's Earnings Per Share Are Growing. … As I already mentioned, Old National Bancorp is a growing business, which is what I like to see.

Simply Wall St -

Understated Factors To Consider Before Investing In Old National Bancorp (NASDAQ:ONB)

As a small-cap finance stock with a market capitalisation of US$2.9b, the risk and profitability of Old National Bancorp (NASDAQ:ONB) are largely tied to the underlying economic growth of the region it operates in US. … Basel III target banking regulations to improve the sector’s ability to absorb shocks resulting from economic stress which may expose financial institutions like Old National Bancorp to vulnerabilities. … Today we will be measuring Old National Bancorp’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Old National Bancorp (NASDAQ:ONB): Immense Growth Potential?

Old National Bancorp's (NASDAQ:ONB) latest earnings announcement in December 2018a … confirmed … company

Simply Wall St -

Why Old National Bancorp's (NASDAQ:ONB) High P/E Ratio Isn't Necessarily A Bad Thing

We'll show how you can use Old National Bancorp's (NASDAQ:ONB) P/E ratio to inform your assessment of the investment opportunity. … Old National Bancorp has a P/E ratio of 13.79, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

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 accounts, including noninterest-bearing demand, interest-bearing checking, NOW, savings and money market, and time deposits; and 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, 2018, the company operated 191 banking centers located primarily in Indiana, Kentucky, Michigan, Wisconsin, and Minnesota. Old National Bancorp was founded in 1834 and is headquartered in Evansville, Indiana.

Details
Name: Old National Bancorp
ONB
Exchange: NasdaqGS
Founded: 1834
$2,924,482,380
172,231,000
Website: http://www.oldnational.com
Address: Old National Bancorp
One Main Street,
Evansville,
Indiana, 47708,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ONB Common Stock Nasdaq Global Select US USD 05. Jun 1984
DB ON1 Common Stock Deutsche Boerse AG DE EUR 05. Jun 1984
Number of employees
Current staff
Staff numbers
2,829
Old National Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/17 23:44
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/08/14
Last earnings filing: 2019/07/31
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.