Jefferies Initiates Coverage of Old National Bancorp - Preferred Stock (ONBPO) with Hold Recommendation
Coverage Initiation: Jefferies has initiated coverage of Old National Bancorp - Preferred Stock with a "Hold" recommendation, projecting a 19.86% upside based on an average price target of $29.86/share.
Institutional Holdings: Institutional ownership in Old National Bancorp - Preferred Stock remains stable, with slight increases in portfolio allocations by several funds over the last quarter, while some funds reported minor decreases in shareholdings.
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Old National Bancorp Reports Record Q4 2025 Earnings with Adjusted EPS of $0.62
- Outstanding Earnings: Old National Bancorp reported an adjusted EPS of $0.62 for Q4 2025, reflecting a 5% quarter-over-quarter increase and a 27% year-over-year rise, showcasing significant improvements in profitability that solidify its competitive position in the industry.
- Loan Growth Outlook: Management anticipates loan growth of 4% to 6% in 2026, a positive outlook that reflects the success of the company's core deposit strategy execution, expected to drive future revenue growth and market share expansion.
- Capital Management Strategy: Despite merger-related charges, Old National Bancorp achieved a 15% increase in tangible book value per share and plans to be more active in share repurchases in 2026, indicating a strong balance between capital returns and organic growth.
- Efficiency Ratio Innovation: The adjusted efficiency ratio dropped to a record low of 46%, demonstrating ongoing improvements in cost control and operational efficiency, which further enhance its profitability and competitive edge in the market.
Old National Bancorp Declares Quarterly Dividend Payments
Quarterly Cash Dividend Declared: Old National Bancorp's Board of Directors announced a quarterly cash dividend of $0.14 per share, payable on December 15, 2025, to shareholders of record by December 5, 2025.
Preferred Stock Dividend Announced: The Board also declared a quarterly cash dividend of $17.50 per share on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, payable on February 20, 2026, to shareholders of record by February 5, 2026.
Company Overview: Old National Bancorp, the sixth largest commercial bank in the Midwest, manages approximately $71 billion in assets and focuses on building long-term partnerships while serving clients primarily in the Midwest and Southeast.
Community Recognition: In 2025, Old National was recognized as one of "The Civic 50," highlighting its commitment to community service and being among the most community-minded companies in the U.S.
