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Old National Bancorp (ONB) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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Old National Bancorp (ONB - Free Report) reported $461.86 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 0%. EPS of $0.51 for the same period compares to $0.51 a year ago.
The reported revenue represents a surprise of +2.32% over the Zacks Consensus Estimate of $451.4 million. With the consensus EPS estimate being $0.49, the EPS surprise was +4.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Old National Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 51.7% versus the three-analyst average estimate of 52.2%.
Net Interest Margin: 3.4% compared to the 3.4% average estimate based on three analysts.
Total Earning assets - Average balance: $43.62 billion versus the two-analyst average estimate of $43.17 billion.
Net Charge-off (% of Average Loans): 0.2% versus 0.2% estimated by two analysts on average.
Total noninterest income: $80.94 million versus the three-analyst average estimate of $78.14 million.
Net Interest Income (FTE): $380.92 million versus the three-analyst average estimate of $373.25 million.
Service charges on deposit accounts: $18.52 million versus $17.91 million estimated by two analysts on average.
Wealth and investment services fees: $26.69 million versus $26.35 million estimated by two analysts on average.
Mortgage banking revenue: $5.06 million compared to the $4.19 million average estimate based on two analysts.
Shares of Old National Bancorp have returned -6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Old National Bancorp (ONB) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Old National Bancorp (ONB - Free Report) reported $461.86 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 0%. EPS of $0.51 for the same period compares to $0.51 a year ago.
The reported revenue represents a surprise of +2.32% over the Zacks Consensus Estimate of $451.4 million. With the consensus EPS estimate being $0.49, the EPS surprise was +4.08%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Old National Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 51.7% versus the three-analyst average estimate of 52.2%.
- Net Interest Margin: 3.4% compared to the 3.4% average estimate based on three analysts.
- Total Earning assets - Average balance: $43.62 billion versus the two-analyst average estimate of $43.17 billion.
- Net Charge-off (% of Average Loans): 0.2% versus 0.2% estimated by two analysts on average.
- Total noninterest income: $80.94 million versus the three-analyst average estimate of $78.14 million.
- Net Interest Income (FTE): $380.92 million versus the three-analyst average estimate of $373.25 million.
- Service charges on deposit accounts: $18.52 million versus $17.91 million estimated by two analysts on average.
- Wealth and investment services fees: $26.69 million versus $26.35 million estimated by two analysts on average.
- Mortgage banking revenue: $5.06 million compared to the $4.19 million average estimate based on two analysts.
View all Key Company Metrics for Old National Bancorp here>>>Shares of Old National Bancorp have returned -6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.