Old National Bancorp operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States.
FAIL · Does not pass the screen
24.93 USD
Price as of 6 Nov 2026Daily close, not a live quote
Screened 2026-11-06 · the tape above runs as of 02:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price24.93 USD at the 6 Nov 2026 close
Our value readUndervalued vs our fair value, as of 6 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 11.00, read 2026-11-07
Ethical does not pass the values gate
Price24.93 USD
Fair value31.00
Ethical score30.0/100
Value readUndervaluedas of 6 Nov 2026
Our investment reviews on this name
2026-10-28Read Accumulation24.78+0.6% to today ✓Markdown gives way to Accumulation first Accumulation read since July
2026-09-08Read Markdown25.77-3.3% to today ✓Markup gives way to Markdown with volume flow in agreement
2026-08-07Read Markup26.67-6.5% to today Accumulation gives way to Markup after a 6% rise in 5 weeks
2026-07-02Read Accumulation25.14-0.8% to today First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Old National Bancorp holds its Markup at $24.93. Consolidating, no directional conviction, held for 12 days.
As held on the ledger · 2026-11-06
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 12 days
Price at the screen
$24.93
Valuation
10.33 trailing · 9.03 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.89
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: bank
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: bank
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Old National Bancorp does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
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Today ONB does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 6 Nov 2026: it trades at roughly a 20% discount to our $31.00 fair value.
Fair value range in USD, drawn from the 2026-11-06 screen. The gold marker is the market price at the same screen. A 19.6% discount to the base estimate.
Where our models see it going: fair-value estimate $31.00, with a range of $31.00 to $49.86, dated to the 2026-11-06 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Everyday Banking Trips the Ethical Line
Walk into any Midwest branch and the deposit slips and mortgage forms look routine, yet the cash still moves through a sector our screen rules out. Revenue growth sits at 46 percent with a forward multiple of 9.3 times and 30 percent margins, but the ethical verdict lands first.
We pass because the screen flags banking outright on prohibited grounds and no valuation gap or analyst targets override that rule. The 20 percent margin to fair value and 10 percent return on equity never reach the table.
This is exactly what the screen exists to catch before any other numbers are weighed. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ONB trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Accumulation$25.42+2.6%Entry 16
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 5% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28.
2026-10-21Markdown$24.78+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Markdown$24.78+1.1%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Markdown$24.51+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$24.51+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Markdown$24.51+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Markdown$24.51-0.3%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$24.58+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-14Markdown$24.58-1.0%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 7% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 16%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (10 analysts) rates it buy, with a mean price target of $28. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.