Old National Bancorp's Financial Performance and Outlook

Core Insights - Old National Bancorp (NASDAQ:ONB) reported GAAP earnings per share (EPS) of $0.55, missing the expected $0.59, and revenue of $698.6 million, below the estimated $706.17 million. However, on an adjusted basis, EPS was $0.62, beating analyst estimates [1][3]. Financial Performance - The company experienced a 40.9% increase in revenue in the fourth quarter of 2025 year-over-year, driven by acquisition activities, indicating positive momentum before the recent earnings report [2][3]. - The net interest margin remained solid at 3.65% (FTE), reflecting improved efficiency and sequential gains in return metrics [4]. - Nonaccrual loans were at 1.07%, higher than regional peers, suggesting a need for caution in asset quality management [4]. Valuation Metrics - Key financial ratios include a trailing P/E ratio of approximately 13.46 and an earnings yield of about 7.43%, reflecting investor valuation and return expectations [2][4][5]. - The price-to-sales ratio (ttm) is about 3.42, and the enterprise value to revenue ratio is around 6.74, showing the company's valuation relative to its revenue [5].