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.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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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.
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.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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