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ONB - Old National Bancorp: Upcoming Earnings Recovery Appears Priced-In
Old National Bancorp
2024-07-16 15:22:02 ET
Summary
The acquisition will hurt earnings this year due to some one-off charges and a negative effect on the margin. However, it will lead to an earnings recovery next year.
Interest rate cuts will also hurt the margin. However, they will help lift the residential mortgage portfolio.
The year-end target price is close to the current market price. Further, ONB is offering an unremarkable dividend yield of around 3.0%.