Citi Highlights Normalized Yield Curve Supporting Old National Bancorp (ONB) Profitability

Old National Bancorp (NASDAQ:ONB) is among the fastest growing stocks.

Old National Bancorp (NASDAQ:ONB) is among the fastest growing stocks.

TheFly reported on February 24 that Citi raised its price target on ONB to $29 from $28 while reiterating a Buy rating on the stock. The firm cited a more normalized yield curve situation as the foundation for a good profitability backdrop for regional banks.

Furthermore, on February 19, Old National Bancorp (NASDAQ:ONB) declared that its Board of Directors had authorized a 3.6% increase in the quarterly dividend of its common stock, bringing it to $0.145 per share. Shareholders of record as of March 5, 2026, will receive the dividend on March 16, 2026. The company's share repurchase program was also approved by the board, which doubled its capacity to $400 million. The $200 million program that was set to expire at the end of February 2026 has been replaced by this new authorization.

Depending on market conditions and management's judgment, the business may repurchase shares under the revised plan through private negotiations, open market purchases, or expedited buyback agreements. The permission will be valid until February 28, 2027. The company's ongoing commitment to returning money to shareholders while retaining flexibility in how and when shares are repurchased is reflected in the combined dividend increase and increased repurchase program.

Old National Bancorp (NASDAQ:ONB) is a regional bank holding company providing retail and commercial banking, wealth management, and lending services. Operating primarily in the Midwest, it focuses on relationship-driven banking, community engagement, and diversified financial solutions for individuals and businesses.

While we acknowledge the potential of ONB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.