Evansville, Indiana, May 1, 2026, 06:22 (CDT)
Comerica Bank boosted its position in Old National Bancorp by 27.8% during the fourth quarter, bringing its holdings to 263,057 shares valued around $5.87 million, according to the latest 13F filing detailed in a Friday report. The disclosure, required of institutional investment managers, was noted by MarketBeat.
The timing’s key here. Old National’s first-quarter 10-Q hit the SEC on April 29, landing up-to-date earnings, credit, and capital-return data in the books just ahead of Friday, when investors would turn to Comerica’s situation and the ongoing buyback angle.
More than just institutional ownership is shaping the story now. Old National posted first-quarter adjusted earnings that beat forecasts by 1 cent a share, yet revenue failed to meet Wall Street’s targets. That’s put investors in a spot—balancing solid profit conversion with concerns about sluggish top-line growth.
Old National’s first quarter saw net income to common shareholders at $229.6 million, translating to 59 cents per diluted share. Adjusted earnings landed at 61 cents. Net interest income, fully taxable equivalent, reached $580.4 million. Loans climbed to $49.8 billion.
Chairman and CEO Jim Ryan pointed to “disciplined execution” and called it a “strong start to the year.” The bank ended the quarter with $55.7 billion in deposits and bought back 3.9 million common shares. Nasdaq
Buybacks sit at the core of the ONB narrative. Chief Financial Officer John Moran told analysts Old National delivered $151 million back to shareholders for the quarter—dividends plus repurchases. “The best investment we can make today is ourselves,” Moran said. The Motley Fool
According to MarketBeat’s Friday update, eight analysts kept the Buy rating, with three holding at Hold. That puts the stock at an average “Moderate Buy,” and the mean price target remains $27.91. The piece also highlights a 14.5-cent per share quarterly dividend, set for payout May 16 to shareholders on record by May 5. MarketBeat
There’s a hitch. Net interest margin slipped 10 basis points, landing at 3.55%, while net charge-offs totaled $32 million. Simply Wall St pointed out that commercial real estate exposure remains a risk, although the firm noted that higher net interest income and share buybacks still offer some backing for the investment case.
Old National faces a familiar regional bank puzzle—juggling loan growth with tight reins on deposit costs, all while steering clear of credit hiccups. Huntington Bancshares and Regions Financial, flagged by Simply Wall St as peers, both outweigh Old National in market cap. That scale advantage doesn’t spare them from similar scrutiny over funding stability, loan appetite, and credit quality.
ONB shares ended at $23.97, putting the bank’s market cap near $9.3 billion. The question now: Will Comerica’s increased stake mark the start of real institutional buying, or is it just a line in a filing for a stock that’s still tethered to margins, credit expenses, and management’s plans for returning capital?
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