Old National Bancorp Q4 EPS Beats Expectations, Revenue Up 41% YoY
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Source: seekingalpha
- Earnings Beat: Old National Bancorp reported a Q4 non-GAAP EPS of $0.62, exceeding expectations by $0.03, indicating robust profitability amidst a competitive landscape.
- Significant Revenue Growth: The bank's revenue reached $690.59 million, reflecting a 41.0% year-over-year increase, although it fell short of market expectations by $15.58 million, highlighting competitive pressures.
- Dividend Declaration: The company declared a dividend of $0.14 per share, demonstrating its commitment to returning value to shareholders, which may attract income-focused investors.
- Cautious Rating Outlook: Despite the earnings beat, analysts remain cautious about Old National Bancorp's rating, suggesting potential challenges ahead, particularly as revenue growth did not fully meet market expectations.
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Analyst Views on ONB
Wall Street analysts forecast ONB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ONB is 26.29 USD with a low forecast of 25.00 USD and a high forecast of 29.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
4 Buy
3 Hold
0 Sell
Moderate Buy
Current: 24.400
Low
25.00
Averages
26.29
High
29.00
Current: 24.400
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.
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.
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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.
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