Old National Bancorp (ONB) is a publicly traded company in the Financial Services — Banks - Regional industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Old National Bancorp functions as the parent company for Old National Bank, furnishing a wide array of financial services to both individual and commercial clients throughout the United States. Its product portfolio encompasses various deposit accounts, including non-interest-bearing demand, interest-bearing checking, negotiable order of withdrawal (NOW) accounts, savings, money market, and time deposits.
Is Old National Bancorp stock overvalued or undervalued in 2026?
Old National Bancorp (ONB) trades at 10.1× earnings (P/E), against a median of 13.0× across the 324 financial services companies above $2bn in Kaplio's universe. At a P/B justified by its ROTCE 12.0 % (1.3×) $28 (+13 %); at its peers' median (1.2×) $27 (+6 %).
Kaplio overview: Old National Bancorp
Market cap $9B · 52 weeks $20 – $27 (8 % below the high) · P/E 10.1× · 2027 expected P/E 8.9× · Dividend 2.3 % · Next earnings January 20, 2027 · expected EPS $0.66 · Closing price, Oct 30 · accounts published Oct 21.
- Valuation: P/B 1.1× (justified).
- Business: ROTCE 12.0 % (fair).
- Balance sheet: Capital/assets 11.8 % (solid).
- Earnings: 7 of 8 (on track).
What would it be worth at its usual multiples?
At a P/B justified by its ROTCE 12.0 % (1.3×) $28 (+13 %); at its peers' median (1.2×) $27 (+6 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in banking: 4 of 5 pass
- ROTCE 12.0 %, borderline.
- ROA 1.3 %, passes.
- Equity / Assets (Tier 1 proxy) 11.8 %, passes.
- P/B (Price / Book) 1.1×, passes.
- Sustainable dividend yield 2.3 %, passes.
Against its peers (reference peers) — Old National Bancorp: P/E 10.1×; P/B 1.1×; ROE 11.3 %; $9.5B. Valley National Bancorp (P/E 11.1×; P/B 1.0×; ROE 9.4 %; $7.8B), United Bankshares, Inc. (P/E 13.1×; P/B 1.2×; ROE 9.4 %; $6.6B), United Community Banks, Inc. (P/E 30.9×; P/B 1.3×; ROE 4.0 %; $4.4B).
Expensive or cheap against its last ten fiscal years?
P/B at each close: today 1.1× · median 1.0× · minimum 0.7× · maximum 1.4× · cheap below 0.9× · expensive above 1.2×. It has been cheaper than today 76% of the time over its last ten fiscal years.
Dividend
tight (only raised recently) · Yield 2.3 % ($0.58 per share in 2025) · 5-year growth +1 % a year · Free cash flow coverage payout 34 % · With $1,000 invested today you'd collect $22.90 a year ($1.91 a month).
Profitability
| Return on Equity | 11.31% |
| Return on Invested Capital | 5.86% |
| Return on Assets | 1.29% |
| Gross Margin | 66.43% |
| Operating Margin | 30.76% |
| Net Margin | 23.61% |
Financial Health
| Debt / Equity | 0.86 |
| Current Ratio | 0.29 |
| Piotroski F-Score | 6 |
| Altman Z-Score | -0.66 |
Price Performance
| 1 month | +0.52% |
| 3 months | -6.55% |
| Year-to-date | +12.46% |
| 1 year | +22.81% |
| 3 years | +77.82% |
| 5 years | +43.45% |
| 10 years | +75.45% |
Dividend History
Paid in the last 12 months: $0.5750 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-04 | $0.1450 |
| 2026-06-05 | $0.1450 |
| 2026-03-05 | $0.1450 |
| 2025-12-05 | $0.1400 |
| 2025-09-05 | $0.1400 |
| 2025-06-05 | $0.1400 |
| 2025-03-05 | $0.1400 |
| 2024-12-05 | $0.1400 |
| 2024-09-05 | $0.1400 |
| 2024-06-05 | $0.1400 |
Amounts adjusted for stock splits.
Related companies: VLY · UBSI · FFBC · NBTB · UCB · PRK
Explore sector: Financial Services · Banks - Regional
More sections of ONB: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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