Old National Bancorp Shareholders Approve Key Proposals
Investing.com
Published May 19, 2025 05:21PM ET
EVANSVILLE, IN - Old National Bancorp (NASDAQ:ONB), an $8.1 billion market cap regional bank with a robust 29.4% return over the past year, announced the results of its 2025 Annual Meeting of Shareholders, which took place on May 14, 2025. According to InvestingPro data, the company, headquartered in Evansville, Indiana, maintains a "GOOD" financial health rating and saw shareholders approve all items on the agenda with high participation.
At the meeting, shareholders elected all nominated directors to the board for a one-year term expiring at the 2026 annual meeting. The directors elected include Barbara A. Boigegrain, Thomas L. Brown, Kathryn J. Hayley, Peter J. Henseler, Daniel S. Hermann, Ryan C. Kitchell, Austin M. Ramirez, Ellen A. Rudnick, James C. Ryan III, Thomas E. Salmon, Rebecca S. Skillman, Michael J. Small, Derrick J. Stewart, Stephen C. Van Arsdell, and Katherine E. White.
The compensation of the named executive officers was also endorsed in a non-binding advisory proposal. Moreover, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified.
The meeting saw a substantial turnout, with approximately 91% of the company's total outstanding shares represented in person or by proxy. This level of participation reflects shareholder engagement and interest in the company's governance and future direction. Trading at a P/E ratio of 12.66, InvestingPro analysis shows the stock currently appears fairly valued based on its Fair Value model.
Old National Bancorp, a financial institution with a history dating back to 1834, continues to uphold its commitment to corporate governance and shareholder communication. With a consistent 43-year track record of dividend payments and a current yield of 2.53%, coupled with nine analysts revising earnings estimates upward, the company demonstrates strong fundamental performance. The results of the meeting are based on a press release statement and indicate a solid vote of confidence from the shareholders in the company's leadership and strategic direction. For deeper insights into ONB's financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro .
In other recent news, Old National Bancorp reported first-quarter 2025 financial results, surpassing earnings expectations with an adjusted earnings per share (EPS) of $0.45, compared to the forecasted $0.43. The company's revenue also exceeded projections, reaching $481.44 million against an expected $478.31 million. Additionally, Old National Bancorp's Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock, payable on June 16, 2025. Keefe, Bruyette & Woods (KBW) adjusted their outlook on Old National Bancorp, reducing the price target from $28.00 to $26.00, but maintained an Outperform rating due to the bank's strong financial position. Meanwhile, Citi analysts revised the price target for Old National Bancorp shares to $28, retaining a Buy rating despite the adjustment. The pending merger with Bremer Bank, expected to close on May 1, is anticipated to contribute positively to the bank's performance and growth. Old National Bancorp is recognized for its strong capital position, with a CET1 ratio of 11.62%, and continues to be favored by analysts for its profitability metrics.
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Written By: Investing.com
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