Old National Bank (ONB, Financial) has released its financial results for the first quarter, showcasing impressive growth in revenue. The company reported earnings of $486.797 million, marking a significant increase from the $440.233 million recorded in the same quarter last year.
The company attributes this robust financial performance to a superior deposit franchise, steady loan growth, and effective expense management strategies. This growth trajectory not only highlights ONB's capacity to thrive in a challenging economic climate but also positions it favorably for upcoming ventures.
Looking ahead, Old National Bank is gearing up for a strategic partnership with Bremer Bank, which is expected to conclude on May 1, 2025. This milestone aligns with the company's forward-looking growth objectives as it prepares for subsequent quarters.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Old National Bancorp (ONB, Financial) is $27.50 with a high estimate of $30.00 and a low estimate of $25.00. The average target implies an upside of 43.23% from the current price of $19.20. More detailed estimate data can be found on the Old National Bancorp (ONB) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Old National Bancorp's (ONB, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Old National Bancorp (ONB, Financial) in one year is $24.58, suggesting a upside of 28.02% from the current price of $19.2. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Old National Bancorp (ONB) Summary page.
