Old National Bancorp (ONB) Soars 5.47% Post-Merger

Old National Bancorp (ONB) shares surged 0.53% today, marking the third consecutive day of gains, with a cumulative increase of 5.47% over the past three days. The stock price reached its highest level since March 2025, with an intraday gain of 1.11%.

The strategy of buying ONB shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 5-year CAGR of 7.98%. While the strategy captured some of the subsequent price appreciation, it also experienced volatility and missed some of the overall market gains, indicating a more conservative approach.

Old National Bancorp recently completed its merger with Bremer Bank, effective May 1, 2025. This strategic acquisition is expected to strengthen the company's market position and enhance its financial performance, potentially driving the stock price higher.

On May 14, 2025, Old National Bancorp announced quarterly cash dividends of $0.14 per share on its common stock, payable on June 16, 2025, and $17.50 per share on its preferred stock, payable on August 20, 2025. These dividends are likely to attract investors and boost shareholder value, further influencing the stock price positively.

Truist Securities initiated coverage of Old National Bancorp with a Buy recommendation on May 13, 2025. The most recent analyst rating also suggests a Buy with a price target of $63.00. Positive analyst ratings can significantly impact investor sentiment, potentially driving the stock price upward.