You’ve probably seen the ticker ONB pop up on your screener recently. Maybe you're looking for a steady dividend, or maybe you're just tracking the Midwest banking scene. Honestly, trying to pin down the old national bancorp stock price lately has been a bit like trying to catch a Midwestern summer breeze—steady for a while, then suddenly shifting.
The bank has roots going all the way back to 1834. That’s Andrew Jackson territory. But history doesn't pay the bills in 2026. As of mid-January 2026, the stock has been hovering around the $22.77 to $23.30 range. It’s a tight spot. People keep waiting for a breakout, but regional banks are a weird breed right now. They aren't the high-flying tech stocks everyone talks about at dinner parties, but they aren't exactly "boring" anymore either.
The Reality of the Current Numbers
Let's look at the actual tape. On January 12, 2026, ONB closed at $22.77. A few days before that, it was flirting with $23.36. This kind of movement is pretty standard for a bank with a **$9.1 billion market cap**. It isn't a penny stock, and it isn't JPMorgan. It’s right in that "goldilocks" zone of mid-cap regional banking.
If you look at the 52-week range, we’ve seen a low of $16.83 and a high of $24.49. That’s a significant spread. It tells you that investors were a bit jittery last year but have started to feel more comfortable as the bank’s assets hit the $71 billion mark.
One thing that kinda gets overlooked is the 1834 wealth unit. They just expanded into Naples, Florida. Why does a Midwest bank care about Florida? High-net-worth clients. That’s why. It’s a play for "sticky" money that doesn't just flee at the first sign of a rate change.
What the Analysts are Whispering
Analysts are actually somewhat bullish, which is a bit surprising given how much people love to hate on regional banks. The average price target is sitting around $26.08. Some of the more optimistic folks at places like Barclays have even thrown out targets as high as $29.00.
- Strong Buy/Buy: About 57% of analysts covering the stock.
- Hold: The other 43%.
- Sell: Basically nobody.
It’s rare to see that much consensus. Usually, there’s at least one contrarian screaming about a "Death Star" pattern (which, by the way, some technical analysts did mention back in 2023, but the stock survived it). Currently, the consensus is that the stock is roughly 9% to 12% undervalued.
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Why the $0.14 Dividend Matters More Than You Think
Most people look at a 2.4% dividend yield and shrug. They want 5% or 6%. But with Old National Bancorp, it’s about the payout ratio. They’re paying out about $0.14 per share quarterly.
That is incredibly sustainable.
Their payout ratio is around 33%. Compare that to some of the "high yield" traps that pay out 80% of their earnings. If the economy takes a dip, ONB has a massive cushion to keep that dividend flowing. They've already scheduled the next ex-dividend date for February 4, 2026, with the actual cash hitting accounts on February 19, 2026. If you’re looking for a "set it and forget it" income play, this is a textbook example.
The Bremer Acquisition Hangover
We have to talk about the Bremer acquisition. It was a big move. Some analysts, like those at Seeking Alpha, have suggested that earnings might plateau for a bit while the bank finishes "digesting" that deal. Mergers are messy. Systems have to be integrated. Employees have to be moved around.
Jim Sandgren, the CEO of Commercial Banking, is also retiring in April 2026. Management shifts like that usually make the market take a "wait and see" approach. It’s probably why the stock is sitting at $23 instead of $26 right now.
Technicals: The Boring but Important Stuff
If you like charts, ONB is doing something interesting. It’s currently trading above its 200-day moving average of $21.46. In plain English? The long-term trend is up.
However, there’s a bit of a "pivot top" sell signal that popped up on January 8. It’s likely just short-term noise. The stock has low volatility, usually moving less than 2% in a single day. It’s not a "get rich quick" ticker. It’s a "don't lose sleep" ticker.
| Metric | Current Value (Approx.) |
|---|---|
| Market Cap | $9.1 Billion |
| P/E Ratio | 13.7 |
| Price/Book | 1.13 |
| Forward Yield | 2.44% |
Honestly, a Price-to-Book ratio of 1.13 is very reasonable for a bank of this size. It means you aren't overpaying for the actual assets the bank owns.
January 21: The Big Day
If you’re holding or thinking about buying, circle January 21, 2026, on your calendar. That’s when the Q4 and full-year 2025 earnings drop. The call is at 10:00 A.M. ET.
Expectations are set for an Adjusted EPS of about $0.59. If they beat that, especially with an improvement in their Net Interest Margin (NIM), we could see that jump toward the $25 mark pretty quickly. NIM is basically the "profit" they make on the gap between what they pay you for your savings and what they charge for a mortgage. In a 2026 economy, that margin is everything.
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Actionable Insights for Investors
If you're looking to play the old national bancorp stock price, don't just jump in blindly.
First, check the dividend capture. If you buy at least one day before the February 4 ex-dividend date, you're locked in for that $0.14. Historical data shows the stock usually "recovers" its price within about 11 days after the dividend drop.
Second, keep an eye on the $21.71 support level. If the price drops below that, the "bullish" story changes. Until then, the trend is your friend.
Finally, don't ignore the 1834 Wealth expansion. If the earnings report shows that their wealth management fees are growing faster than their interest income, the stock might deserve a higher P/E multiple. Banks that act like wealth managers are always worth more than banks that just act like... well, banks.
Mark the January 21 earnings call as your primary research task. Listen for how they’re handling the retirement of Jim Sandgren and whether the Florida expansion is actually bringing in the "Naples money" they're chasing.