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EVANSVILLE, Ind. - Old National Bancorp (NASDAQ: ONB), a Midwest and Southeast-serving commercial bank, has declared a quarterly cash dividend for its shareholders. The Board of Directors announced a dividend of $0.14 per share on the company’s common stock, payable on June 16, 2025, to shareholders on record by June 5, 2025. According to InvestingPro data, the bank has maintained dividend payments for 43 consecutive years, with a current dividend yield of 2.48%.
Additionally, dividends for the 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: ONBPP) and Series C (NASDAQ: ONBPO), have been declared at $17.50 per share. This is equivalent to $0.4375 per depositary share, with each depositary share representing a 1/40th interest in a share of the preferred stock. Shareholders of record as of August 5, 2025, will receive the preferred stock dividends on August 20, 2025.
Old National Bancorp, the parent company of Old National Bank, is recognized as the fifth-largest commercial bank headquartered in the Midwest. With a market capitalization of $8.39 billion and a P/E ratio of 13.06, the bank boasts approximately $70 billion in assets and manages $37 billion in assets under management, which includes Bremer Financial Corporation on a pro forma basis as of March 31, 2025. InvestingPro analysis shows the company has achieved a strong 32.19% return over the past year, with analysts setting price targets ranging from $23 to $28 per share.
The company has a longstanding history dating back to 1834 and is committed to fostering long-term relationships with its clients while contributing to the communities it serves. Old National offers a range of services, including consumer and commercial banking, wealth management, and capital markets services.
In 2024, Old National was named one of "The Civic 50" by Points of Light, distinguishing it as one of the most community-minded companies in the United States. This recognition underscores the bank’s commitment to community engagement and social responsibility.
This financial update is based on a press release statement issued by Old National Bancorp.
In other recent news, Old National Bancorp reported robust financial results for the first quarter of 2025, exceeding earnings expectations. The bank achieved an adjusted earnings per share (EPS) of $0.45, surpassing the forecasted $0.43, and its revenue reached $481.44 million, above the anticipated $478.31 million. A significant development for Old National Bancorp is the pending merger with Bremer Bank, expected to close on May 1, which is anticipated to bolster the bank’s performance and growth. Keefe, Bruyette & Woods (KBW) adjusted their price target for Old National Bancorp to $26 from $28, while maintaining an Outperform rating, citing the bank’s strong balance sheet and projected profitability. Similarly, Citi revised their price target to $28 but retained a Buy rating, acknowledging the bank’s strong first-quarter earnings and the advanced timeline for the Bremer deal closure. Both analyst firms highlight the bank’s solid financial position and potential for future growth, despite a constrained economic outlook. These recent developments reflect Old National Bancorp’s strategic initiatives and financial health, positioning it favorably in the banking sector.
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