Old National Bancorp Depositary Shares Each Representing a 1/40th Interest in a Share of Series C Preferred Stock (ONBPO)

FairStock Score: 60/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at ONBPO not as a common stock but as a preferred claim on Old National Bancorp, a regional bank. At $24.81 on 2026-10-13, it yields 7.05% and trades near its $25 par, with a 52-week range of $24.50–$25.45. The bank itself is a steady, deposit-funded lender; its moat is local relationships and switching costs, but banking is competitive and regulated. The filed numbers show uneven but improving earnings: in fiscal year 2023, the year ended 2023-12-31, net income was $582.0M and diluted EPS $1.94; in fiscal year 2024, the year ended 2024-12-31, net income fell to $539.2M and EPS $1.68; in fiscal year 2025, the year ended 2025-12-31, net income rebounded to $669.3M and EPS $1.79. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $233.7M and diluted EPS $0.59, up from $144.7M and $0.44 in fiscal Q1 2025, the quarter ended 2025-03-31. FairStock calculates ROE of 10.61%, P/B of 1.14, P/E of 27.88, PEG of 0.27, Piotroski 6/9, and a FairStock Score of 60/100. It calls the stock a STALWART based on 24.2% annual profit growth over five years. For the preferred, the key is not the common P/E but the 7.05% yield and the bank's ability to cover it. A 10.61% ROE is respectable but not exceptional, and the preferred sits below deposits and debt. I would want CET1, net interest margin, charge-offs, and reserve coverage, none of which are in the data; combined ratio is not the right metric for a bank. The price looks close to fair: not a bargain, not distressed.

In plain English: Old National Bancorp is a regional bank. This security is a preferred stock that pays a 7.05% dividend and trades near $25. The bank's profits have been uneven but improved recently, and the price looks close to fair for the dividend and the risks, with credit details not fully visible.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer