Old National Bancorp (NASDAQ:ONB) Maintains Steady Performance Outlook

Font: Financial Modeling Prep  • Jan 20, 2026

• Stable Price Targets: The consensus price target for ONB has remained stable over the past year, indicating a steady performance outlook.
• Strong Growth: ONB has experienced strong growth in revenue and profit, driven by recent acquisitions, though concerns about credit quality and elevated multiples persist.
• Positive Earnings Surprises: ONB has a strong track record of surpassing earnings expectations, suggesting potential for continued earnings growth.

Old National Bancorp (NASDAQ:ONB) is a longstanding financial institution with roots dating back to 1834. It offers a variety of banking and financial services to both individual and commercial clients across the Midwest. The company operates 162 banking centers in Indiana, Kentucky, Michigan, Minnesota, and Wisconsin, establishing a strong regional presence.

The consensus price target for ONB's stock has shown stability over the past year. Last month, the average price target was $25, slightly lower than the $25.5 target from the previous quarter and year. This consistency suggests a steady performance outlook for ONB, with analysts maintaining a stable valuation for the stock.

Despite the stable price targets, ONB holds a "Hold" rating due to its fair valuation. The company has experienced strong growth in revenue and profit, driven by recent acquisitions like Bremer Financial and CapStar Financial Holdings. However, concerns about credit quality metrics and elevated multiples limit the potential for an upgrade, as highlighted by RBC Capital's Jon Arfstrom, who set a price target of $24.

ONB has a strong track record of surpassing earnings expectations. In its recent quarterly report, the company reported a profit of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.56 per share. This performance indicates a positive outlook for ONB, with potential for continued earnings growth in future reports.

Comparative analyses with other finance companies, such as First Busey and First Western Financial, highlight ONB's strengths in dividends, institutional ownership, and profitability. With 83.7% insider and institutional ownership, ONB demonstrates a significant level of confidence from stakeholders, supporting the positive outlook set by analysts like Jon Arfstrom.