ONB Should I Buy
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Old National Bancorp looks like a good buy right now for a beginner-focused, long-term investor with $50,000-$100,000 to deploy. The stock is in a constructive uptrend, analysts are broadly positive, the latest quarter was described as solid with better loan growth and a larger buyback, and the recent price action remains near the upper end of its short-term range. Since the investor is impatient and does not want to wait for a perfect entry, the current pre-market setup is acceptable. My direct view: buy ONB now.
ONB is showing a bullish technical structure. The MACD histogram is positive and expanding, RSI_6 at 54.836 is neutral but supportive, and the moving averages are aligned bullishly with SMA_5 > SMA_20 > SMA_200. Price at 23.94 is just below resistance at 24.308 and above the pivot at 23.773, which suggests the stock is trading in a healthy uptrend with room to test higher levels. The recent pattern also points to modest near-term upside expectations over the next week and month.
["Truist, Stephens, Keefe Bruyette, and Barclays all raised price targets or maintained bullish ratings after Q1 results", "Q1 earnings beat with better loan growth and a larger buyback", "Management added Shane Print as President of Commercial & Industrial Banking, a growth-oriented hire", "Analysts expect continued strength in loan growth, fee income, and ROTCE over 2026-2027", "SwingMax issued an entry signal on 2026-05-20, supporting an ongoing buy-the-dip / trend-following setup"]
["Jefferies kept only a Hold rating and called the quarter mixed", "Net interest margin was slightly lower, which tempers the bullish case", "Barclays noted lingering credit uncertainty tied to energy prices, AI disruption, and layoffs", "No insider buying trend and no notable hedge fund accumulation trend were reported", "No congress trading data or political buying/selling activity was available"]
The latest quarter was Q1 2026. Financial commentary indicates a solid earnings beat, improved loan growth, and a larger buyback, which are all favorable signs for a regional bank. Analysts also referenced guidance that was largely reiterated with a modest upward bias from loan growth and fees. The key soft spot was slightly lower net interest margin, but overall the growth trend in the latest quarter was positive.
Wall Street is mostly constructive on ONB. Recent moves include Truist raising the target to $28 with a Buy rating, Stephens raising to $29 with Overweight, Keefe Bruyette raising to $28 with Outperform, and Barclays raising to $30 with Overweight. Only Jefferies remained cautious with a Hold and $25 target. Overall, the pros view is bullish due to loan growth, buybacks, and solid Q1 execution, while the main con is margin pressure and some credit uncertainty.
