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Old National Bancorp (ONB) Reports Q2 Earnings: What Key Metrics Have to Say
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Old National Bancorp (ONB - Free Report) reported $469.63 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 9%. EPS of $0.54 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +4.94% over the Zacks Consensus Estimate of $447.53 million. With the consensus EPS estimate being $0.50, the EPS surprise was +8.00%.
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:
Efficiency Ratio: 51.2% compared to the 51.82% average estimate based on three analysts.
Net Interest Margin: 3.55% versus the three-analyst average estimate of 3.52%.
Total Earning assets - Average balance: $43.10 billion versus $42.11 billion estimated by two analysts on average.
Total noninterest income: $81.63 million compared to the $77.67 million average estimate based on three analysts.
Net Interest Income (FTE): $388 million compared to the $371.86 million average estimate based on three analysts.
Service charges on deposit accounts: $17.75 million versus the two-analyst average estimate of $17.77 million.
Mortgage banking revenue: $4.17 million compared to the $4.51 million average estimate based on two analysts.
Shares of Old National Bancorp have returned +15.5% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Old National Bancorp (ONB) Reports Q2 Earnings: What Key Metrics Have to Say
Old National Bancorp (ONB - Free Report) reported $469.63 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 9%. EPS of $0.54 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +4.94% over the Zacks Consensus Estimate of $447.53 million. With the consensus EPS estimate being $0.50, the EPS surprise was +8.00%.
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:
- Efficiency Ratio: 51.2% compared to the 51.82% average estimate based on three analysts.
- Net Interest Margin: 3.55% versus the three-analyst average estimate of 3.52%.
- Total Earning assets - Average balance: $43.10 billion versus $42.11 billion estimated by two analysts on average.
- Total noninterest income: $81.63 million compared to the $77.67 million average estimate based on three analysts.
- Net Interest Income (FTE): $388 million compared to the $371.86 million average estimate based on three analysts.
- Service charges on deposit accounts: $17.75 million versus the two-analyst average estimate of $17.77 million.
- Mortgage banking revenue: $4.17 million compared to the $4.51 million average estimate based on two analysts.
View all Key Company Metrics for Old National Bancorp here>>>Shares of Old National Bancorp have returned +15.5% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.