Old National Bancorp announces Q3 adjusted EPS of 59 cents, surpassing consensus estimate of 56 cents.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2025
0mins
Should l Buy ONB?
Q3 Revenue Performance: Old National reported Q3 revenue of $713 million, exceeding the consensus estimate of $696.19 million.
CEO's Remarks: Chairman and CEO Jim Ryan attributed the strong results to a focus on fundamentals and the benefits from the partnership with Bremer Bank.
Partnership Completion: The conversion activities related to the Bremer partnership are now complete, positioning Old National favorably for future growth.
Future Outlook: The company is well positioned for the remainder of 2025 and beyond, according to CEO Jim Ryan.
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Analyst Views on ONB
Wall Street analysts forecast ONB stock price to rise
7 Analyst Rating
4 Buy
3 Hold
0 Sell
Moderate Buy
Current: 23.100
Low
25.00
Averages
26.29
High
29.00
Current: 23.100
Low
25.00
Averages
26.29
High
29.00
About ONB
Old National Bancorp is the holding company of Old National Bank. Old National Bank is a commercial bank that serves clients primarily in the Midwest and Southeast. Old National Bank operates banking centers located primarily throughout the Midwestern and Southeastern United States, including Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, North Carolina, Tennessee, and Wisconsin. In addition to providing services in consumer and commercial banking, Old National Bank offers comprehensive wealth management and capital markets services. Each of the banking centers of Old National Bank provides a group of similar community banking services, including such products and services as commercial, real estate, and consumer loans; deposits; and private banking, capital markets, brokerage, wealth management, trust, and investment advisory services. Old National Bank’s lending activities include loans to individuals, and loans to commercial clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Replacement of Previous Plan: The new repurchase program replaces the prior $200 million plan set to expire on February 28, 2026, indicating a proactive adjustment in capital management aimed at enhancing shareholder value.
- Flexible Buyback Methods: The new program allows for buybacks through various methods including open market transactions, privately negotiated deals, or accelerated share repurchase, enhancing the company's flexibility and responsiveness to market fluctuations.
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- Compliance and Scalability: The upgraded architecture meets ISO 20022 standards, establishing a scalable foundation for future international growth, thereby strengthening Old National's competitive position in the international payments sector.
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- Optimistic NII Outlook: Analysts highlighted that Q4 2025's net interest income (NII) is tracking ahead of prior guidance, coupled with strong capital markets and mortgage banking performance, suggesting emerging revenue momentum that could drive future growth.
- Management's Strategic Focus: CEO Jim Ryan emphasized during the earnings call a focus on core deposit growth, positive operating leverage, disciplined credit management, and robust liquidity and capital ratios, demonstrating the company's commitment to sound operations.
- Stock Performance Recovery: ONB shares rose 2.8% in midday trading, bringing the year-to-date increase to 10.6%, reflecting growing market confidence in the company's future prospects, while TD Cowen's Buy rating contrasts with the generally Hold ratings from other analysts.
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- Inflation Impact: January's Producer Price Index (PPI) rose 0.5% month-over-month, surpassing the expected 0.3%, with the core component increasing by 0.8%, indicating limited room for the Federal Reserve to cut interest rates and heightening concerns over potential economic slowdown.
- Rising Credit Risk: A Bank of America strategist highlighted increasing concerns over problem loans that could pressure lenders, prompting investors to reassess credit risk, particularly in private credit and leveraged loan markets, negatively impacting valuations of banks sensitive to economic cycles.
- Regional Bank Declines: The market's reaction led to significant declines in regional banks, with UMB Financial (NASDAQ:UMBF) down 7%, Texas Capital Bank (NASDAQ:TCBI) down 6.8%, Simmons First National (NASDAQ:SFNC) down 6.6%, Pinnacle Financial Partners (NASDAQ:PNFP) down 7.5%, and Old National Bank (NASDAQ:ONB) down 6.7%, reflecting waning investor confidence in the sector.
- Overreaction Opportunity: While the market's response to the news has been severe, the substantial price drops may present good buying opportunities for high-quality stocks, especially amid increasing economic uncertainty, necessitating careful evaluation of potential investment prospects.
See More
Old National Bancorp Doubles Share Repurchase Program to $400M
- Repurchase Program Expansion: Old National Bancorp has announced a doubling of its share repurchase program to $400 million, effective until February 28, 2027, reflecting the company's confidence in future stock performance.
- Replacement of Previous Plan: The new repurchase program replaces the prior $200 million plan set to expire on February 28, 2026, indicating a proactive adjustment in capital management aimed at enhancing shareholder value.
- Flexible Buyback Methods: The new program allows for buybacks through various methods including open market transactions, privately negotiated deals, or accelerated share repurchase, enhancing the company's flexibility and responsiveness to market fluctuations.
- Future Growth Outlook: Old National Bancorp anticipates loan growth of 4% to 6% in 2026 while strengthening its capital position, demonstrating strategic decisions focused on business expansion and financial health improvement.
See More
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Dividend Increase: National Bancorp has raised its quarterly dividend by 3.6%.
New Dividend Amount: The new dividend is set at $0.145 per share.
See More
Old National Partners with Axletree to Enhance SWIFT Architecture
- Partnership Completion: Old National Bancorp has finalized its partnership with Axletree Solutions to implement the Symmetree platform, enhancing the security and transparency of its SWIFT architecture, thereby improving transaction control and efficiency.
- Efficiency Gains: The new system reduces friction in international payment processing, enables faster onboarding for clients, and significantly increases transaction volumes, which is expected to positively impact the company's revenue potential.
- Compliance and Scalability: The upgraded architecture meets ISO 20022 standards, establishing a scalable foundation for future international growth, thereby strengthening Old National's competitive position in the international payments sector.
- Real-Time Payment Tracking: Through Axletree, Old National can now track international payments in real time, leveraging SWIFT APIs to provide a secure end-to-end environment, significantly enhancing customer service quality and satisfaction.
See More
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- New Chief Revenue Officer: Old National Bancorp has appointed Joe Chasteen as Chief Revenue Enablement Officer, a role designed to drive organic growth and revenue generation, marking an innovative step in the company's strategic leadership.
- Extensive Industry Experience: Chasteen brings over 27 years of business banking and enterprise leadership experience, having held senior roles at several large financial institutions, showcasing his exceptional capabilities in sales strategy and client integration.
- Sales Process Optimization: The new Chief Revenue Officer will focus on establishing and reinforcing enterprise-wide sales processes, further advancing the use of customer relationship management tools to enhance sales efficiency and market leadership.
- Efficient Team Building: Chasteen's background demonstrates his success in building high-performing teams and driving consistent results, which will bring greater rigor and accountability to Old National's sales delivery.
See More
TD Cowen Upgrades Old National Bancorp (ONB) to Buy Amid Accelerating Loan Growth
- Accelerating Loan Growth: Old National Bancorp's Q4 2025 earnings exceeded expectations despite revenue falling short of consensus, with analysts noting an acceleration in lending growth, indicating enhanced competitive positioning in the market.
- Optimistic NII Outlook: Analysts highlighted that Q4 2025's net interest income (NII) is tracking ahead of prior guidance, coupled with strong capital markets and mortgage banking performance, suggesting emerging revenue momentum that could drive future growth.
- Management's Strategic Focus: CEO Jim Ryan emphasized during the earnings call a focus on core deposit growth, positive operating leverage, disciplined credit management, and robust liquidity and capital ratios, demonstrating the company's commitment to sound operations.
- Stock Performance Recovery: ONB shares rose 2.8% in midday trading, bringing the year-to-date increase to 10.6%, reflecting growing market confidence in the company's future prospects, while TD Cowen's Buy rating contrasts with the generally Hold ratings from other analysts.
See More
