TD Cowen maintains Buy rating on Old National Bancorp, $29 price target

Old National Bancorp (ONB) reported Q3 2026 record EPS of $0.66, net income, and adjusted diluted EPS. Deposits grew 11% annualized, with $1B in organic increases. Credit quality remained strong, but net interest margin declined due to higher funding costs. The company expects full-year net interest income at the lower end of its range and mid-single-digit loan growth in Q4. Management discussed capital levels, M&A appetite, and expense outlook.

Old National Bancorp (ONB) reported Q3 2026 EPS of $0.66, with record net income and adjusted diluted EPS. The company expects 2026 EPS growth over 15%, targeting 6%-8% loan growth and $177M in buybacks. CEO James Ryan highlighted healthy growth.

Old National (ONB) reported Q3 2026 earnings per share of $0.66, with record earnings driven by strong deposit and loan growth, stable credit, and disciplined expense management. The company added 26 relationship managers and expanded in key markets. It maintained a CET1 ratio above 11% and returned $100 million to shareholders through buybacks. Loan growth was 3% annualized, led by commercial portfolios, while deposit growth was 11% annualized.

Old National Bancorp (ONB) reported Q3 earnings, noting 3% annualized loan growth and 4% net interest income growth. Management expects Q4 net interest income to rise above $592M and margin to improve slightly. Credit quality remained stable, and the company repurchased $100M in shares. ONB maintained its 2026 guidance, including 15% EPS growth and 6-8% loan growth. The company is focusing on organic growth and talent investments.

Old National Bancorp reported Q3 2026 earnings with record net income, driven by 12% C&I loan growth and $1B in organic deposits. Profitability was 19.6% ROE, with efficiency at 44.9%. Management expects 15%+ EPS growth, 6-8% loan growth, and $1.8B cash flow from investments. They plan to use $177M for share buybacks. Credit quality remains stable, and expansion into Ohio markets is underway.

Old National Bancorp reported Q3 net income of $249.96M, or $0.66 per share, up from $178.53M, or $0.46 per share, a year earlier. Revenue rose to $720.4M, while provision for credit losses increased to $33.58M. Shares were down 1% in pre-market trading.