RBC Capital analyst Jon Arfstrom has adjusted the price target for Old National Bancorp (ONB, Financial), bringing it down from $26 to $23. Despite the reduction, Arfstrom maintains a Sector Perform rating for the bank's shares.
The decision reflects an analysis of the bank's steady core trends, which include continued organic loan growth and expansion of core margins. The company's core fees have remained mostly stable, and expenses are being well-managed. These factors contribute to a positive overall outlook for Old National Bancorp.
Additionally, the impending completion of the Bremer acquisition, now scheduled for May 1st, is anticipated to present further accretion opportunities for the bank. This acquisition is expected to bolster Old National Bancorp's position and performance in the market.
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 $25.33 with a high estimate of $30.00 and a low estimate of $23.00. The average target implies an upside of 21.47% from the current price of $20.86. 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 17.86% from the current price of $20.855. 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.
