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Countdown to Old National Bancorp (ONB) Q2 Earnings: Wall Street Forecasts for Key Metrics
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Wall Street analysts expect Old National Bancorp (ONB - Free Report) to post quarterly earnings of $0.51 per share in its upcoming report, which indicates a year-over-year increase of 10.9%. Revenues are expected to be $623.08 million, up 29.3% from the year-ago quarter.
The current level reflects an upward revision of 1.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Old National Bancorp metrics that are commonly tracked and forecasted by Wall Street analysts.
According to the collective judgment of analysts, 'Efficiency Ratio' should come in at 62.1%. Compared to the current estimate, the company reported 57.2% in the same quarter of the previous year.
Analysts predict that the 'Net interest margin (FTE)' will reach 3.6%. The estimate is in contrast to the year-ago figure of 3.3%.
The average prediction of analysts places 'Average Balance - Total earning assets' at $58.55 billion. The estimate is in contrast to the year-ago figure of $47.41 billion.
Based on the collective assessment of analysts, 'Net Interest Income (FTE)' should arrive at $518.38 million. The estimate is in contrast to the year-ago figure of $394.76 million.
The combined assessment of analysts suggests that 'Total noninterest income' will likely reach $105.08 million. The estimate is in contrast to the year-ago figure of $87.27 million.
Analysts forecast 'Mortgage banking revenue' to reach $8.36 million. Compared to the present estimate, the company reported $7.06 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Wealth and investment services fees' of $33.22 million. The estimate is in contrast to the year-ago figure of $29.36 million.
Analysts expect 'Service charges on deposit accounts' to come in at $23.12 million. Compared to the current estimate, the company reported $19.35 million in the same quarter of the previous year.
The consensus among analysts is that 'Net Interest Income' will reach $516.30 million. The estimate compares to the year-ago value of $388.42 million.
Analysts' assessment points toward 'Other income' reaching $14.50 million. The estimate is in contrast to the year-ago figure of $10.04 million.
It is projected by analysts that the 'Capital markets income' will reach $6.00 million. Compared to the current estimate, the company reported $4.73 million in the same quarter of the previous year.
The consensus estimate for 'Debit card and ATM fees' stands at $11.00 million. The estimate compares to the year-ago value of $10.99 million.
Over the past month, shares of Old National Bancorp have returned +11.5% versus the Zacks S&P 500 composite's +5.4% change. Currently, ONB carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Countdown to Old National Bancorp (ONB) Q2 Earnings: Wall Street Forecasts for Key Metrics
Wall Street analysts expect Old National Bancorp (ONB - Free Report) to post quarterly earnings of $0.51 per share in its upcoming report, which indicates a year-over-year increase of 10.9%. Revenues are expected to be $623.08 million, up 29.3% from the year-ago quarter.
The current level reflects an upward revision of 1.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Old National Bancorp metrics that are commonly tracked and forecasted by Wall Street analysts.
According to the collective judgment of analysts, 'Efficiency Ratio' should come in at 62.1%. Compared to the current estimate, the company reported 57.2% in the same quarter of the previous year.
Analysts predict that the 'Net interest margin (FTE)' will reach 3.6%. The estimate is in contrast to the year-ago figure of 3.3%.
The average prediction of analysts places 'Average Balance - Total earning assets' at $58.55 billion. The estimate is in contrast to the year-ago figure of $47.41 billion.
Based on the collective assessment of analysts, 'Net Interest Income (FTE)' should arrive at $518.38 million. The estimate is in contrast to the year-ago figure of $394.76 million.
The combined assessment of analysts suggests that 'Total noninterest income' will likely reach $105.08 million. The estimate is in contrast to the year-ago figure of $87.27 million.
Analysts forecast 'Mortgage banking revenue' to reach $8.36 million. Compared to the present estimate, the company reported $7.06 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Wealth and investment services fees' of $33.22 million. The estimate is in contrast to the year-ago figure of $29.36 million.
Analysts expect 'Service charges on deposit accounts' to come in at $23.12 million. Compared to the current estimate, the company reported $19.35 million in the same quarter of the previous year.
The consensus among analysts is that 'Net Interest Income' will reach $516.30 million. The estimate compares to the year-ago value of $388.42 million.
Analysts' assessment points toward 'Other income' reaching $14.50 million. The estimate is in contrast to the year-ago figure of $10.04 million.
It is projected by analysts that the 'Capital markets income' will reach $6.00 million. Compared to the current estimate, the company reported $4.73 million in the same quarter of the previous year.
The consensus estimate for 'Debit card and ATM fees' stands at $11.00 million. The estimate compares to the year-ago value of $10.99 million.
View all Key Company Metrics for Old National Bancorp here>>>Over the past month, shares of Old National Bancorp have returned +11.5% versus the Zacks S&P 500 composite's +5.4% change. Currently, ONB carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .