Old National Bancorp (ONB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

ONB

For the quarter ended March 2023, Old National Bancorp (ONB - Free Report) reported revenue of $457.84 million, up 56.9% over the same period last year. EPS came in at $0.54, compared to $0.40 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $457.87 million, representing a surprise of -0.01%. The company delivered an EPS surprise of +3.85%, with the consensus EPS estimate being $0.52.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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:

  • Net Interest Margin [%]: 3.64% versus 3.73% estimated by three analysts on average.
  • Efficiency Ratio [%]: 52.8% compared to the 50.5% average estimate based on three analysts.
  • Net Interest Income (FTE): $387.15 million versus the three-analyst average estimate of $383.93 million.
  • Total noninterest income: $70.68 million compared to the $73.93 million average estimate based on three analysts.
View all Key Company Metrics for Old National Bancorp here>>>

Shares of Old National Bancorp have returned -7% over the past month versus the Zacks S&P 500 composite's +4.3% 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.

Free – 5 Dividend Stocks to Fund Your Retirement

Zacks Investment Research has released a Special Report to help you prepare for retirement with 5 diverse stocks that pay whopping dividends. They cut across property management, upscale outlets, financial institutions, and a couple of strong energy producers.

5 Dividend Stocks to Include in Your Retirement Strategy is packed with unconventional wisdom and insights you won’t get from your neighborhood financial planner.

Download Now – Today It’s FREE >>