Stephens Initiates Coverage on Old National Bancorp

Research firm sets "Overweight" rating and $27 price target on regional bank's stock

Mar. 27, 2026 at 2:12pm

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Stephens, a financial services firm, has initiated coverage on shares of Old National Bancorp (NASDAQ:ONB), a regional bank headquartered in Evansville, Indiana. Stephens issued an "overweight" rating on the stock and set a price target of $27, representing a potential upside of 26.03% from the company's current trading price.

Why it matters

This new coverage from Stephens provides additional insight and analysis on Old National Bancorp, which could influence investor sentiment and trading activity around the stock. As a regional bank, Old National Bancorp's performance is often seen as a barometer for the broader financial health of the Midwest U.S. economy.

The details

In its research note, Stephens cited Old National Bancorp's strong market position, diversified business lines, and potential for growth as reasons for the "overweight" rating. The $27 price target suggests Stephens believes the stock is currently undervalued. Several other equity research firms have also recently weighed in on Old National Bancorp, with the majority recommending a "buy" or "hold" rating.

  • Stephens initiated coverage on Old National Bancorp on Friday, March 27, 2026.

The players

Old National Bancorp

A regional financial services firm headquartered in Evansville, Indiana that provides a full range of commercial and consumer banking services, as well as specialty offerings like treasury management, wealth management, and insurance solutions.

Stephens

A financial services firm that provides investment banking, wealth management, and research services to institutional and individual clients.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

The takeaway

This new coverage from Stephens highlights the potential upside in Old National Bancorp's stock, as the firm sees the regional bank as undervalued relative to its growth prospects and market position. Investors will likely be watching to see if other research firms follow Stephens' lead in initiating or upgrading their views on Old National Bancorp.