ONB Stock Forecast & Price Target

Old National Bancorp's financial performance reflects a stable growth trajectory, with adjusted expenses increasing modestly by 2.2% to approximately $268.7 million, indicating effective cost management amid rising operational demands. The bank's spread revenues rose 0.6% sequentially to $394.2 million, demonstrating resilience in its core lending activities, while core fee income also showed a healthy increase of 1.7% to $95.8 million. Furthermore, average deposits experienced a significant annual increase of 5.3%, driven largely by growth in private banking and community deposits, underscoring the bank's solid customer base and retention strategies.

Old National Bancorp has reported a negative trend in its financial performance, with mortgage banking results falling by 8.4% sequentially and capital markets revenues declining by 29.4%. Additionally, there was a slight decrease in total loans of 0.3%, primarily driven by reductions in commercial and commercial real estate balances, despite minor increases in residential mortgage and consumer loans. Furthermore, total deposits experienced a 0.1% decline, indicating potential challenges in attracting and retaining customer funds amidst an environment of modest growth in non-loan earning assets.