Old National Bancorp logged a -2.8% change during today's morning session, and is now trading at a price of $12.66 per share.
Old National Bancorp returned losses of -18.6% last year, with its stock price reaching a high of $20.19 and a low of $11.66. Over the same period, the stock underperformed the S&P 500 index by -24.0%. As of April 2023, the company's 50-day average price was $13.66. Old National Bancorp operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. Based in Evansville, IN, the mid-cap Finance company has 4,023 full time employees. Old National Bancorp has offered a 4.3% dividend yield over the last 12 months.
Overview of the Company's Finances:
| 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Revenue (MM) | $796 | $835 | $811 | $1,728 |
| Interest Income | $604,273 | $596,094 | $596,400 | $1,327,936 |
| Net Margins | 29.91% | 27.1% | 34.24% | 24.79% |
| Net Income (MM) | $238 | $226 | $278 | $428 |
| Depreciation & Amort. | -$16,911 | -$14,091 | -$11,336 | -$25,857 |
| Earnings Per Share | $1.38 | $1.36 | $1.67 | $2.12 |
| EPS Growth | n/a | -1.45% | 22.79% | 26.95% |
| Diluted Shares (MM) | 173 | 166 | 166 | 293 |
| Free Cash Flow (MM) | $196 | $189 | $282 | $777 |
| Capital Expenditures (MM) | -$37 | -$31 | -$49 | -$38 |
| Long Term Debt (MM) | $2,067 | $2,244 | $2,183 | $4,572 |
| Net Debt / EBITDA | 2.25 | 2.01 | 1.52 | 2.14 |
Old National Bancorp benefits from growing revenues and a flat capital expenditure trend, consistent net margins with a stable trend, and a strong EPS growth Trend. The company's financial statements show generally positive cash flows and reasonable leverage.
Old National Bancorp Has Attractive Multiples and Trades Below Its Graham Number:
Old National Bancorp has a trailing twelve month P/E ratio of 6.4, compared to an average of 14.34 for the Finance sector. Based on its EPS guidance of $1.91, the company has a forward P/E ratio of 7.2. The 6.7% compound average growth rate of Old National Bancorp's historical and projected earnings per share yields a PEG ratio of 0.96. This suggests that its shares are undervalued. Additionally, the market is possibly undervaluing Old National Bancorp in terms of its equity because its P/B ratio is 0.73 whereas the sector average is 1.57. The company's shares are currently trading -49.7% below their Graham number.
Old National Bancorp Has an Analyst Consensus of Strong Upside Potential:
The 7 analysts following Old National Bancorp have set target prices ranging from $14.5 to $19.0 per share, for an average of $17.0 with a buy rating. As of April 2023, the company is trading -19.6% away from its average target price, indicating that there is an analyst consensus of strong upside potential.
Old National Bancorp has an average amount of shares sold short because 3.8% of the company's shares are sold short. Institutions own 80.6% of the company's shares, and the insider ownership rate stands at 1.02%, suggesting a small amount of insider investors. The largest shareholder is Blackrock Inc., whose 12% stake in the company is worth $451,232,386.
