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Here's What Key Metrics Tell Us About Old National Bancorp (ONB) Q1 Earnings

Zacks Equity Research
·2 分鐘文章

For the quarter ended March 2024, Old National Bancorp (ONB) reported revenue of $440.23 million, down 3.9% over the same period last year. EPS came in at $0.45, compared to $0.54 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $439.07 million, representing a surprise of +0.27%. The company delivered an EPS surprise of +4.65%, with the consensus EPS estimate being $0.43.

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.

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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: 58.3% versus 56.1% estimated by three analysts on average.

  • Net interest margin (FTE): 3.3% compared to the 3.3% average estimate based on three analysts.

  • Average Balance - Total earning assets: $44.18 billion compared to the $44.01 billion average estimate based on two analysts.

  • Net charge-offs to average loans: 0.1% versus the two-analyst average estimate of 0.2%.

  • Total noninterest income: $77.52 million versus $78.83 million estimated by three analysts on average.

  • Net Interest Income (FTE): $362.71 million versus $360.24 million estimated by three analysts on average.

  • Service charges on deposit accounts: $17.90 million compared to the $18.10 million average estimate based on two analysts.

  • Wealth and investment services fees: $28.30 million versus $27.97 million estimated by two analysts on average.

  • Mortgage banking revenue: $4.48 million compared to the $3.75 million average estimate based on two analysts.

View all Key Company Metrics for Old National Bancorp here>>>

Shares of Old National Bancorp have returned -2.3% over the past month versus the Zacks S&P 500 composite's -4.2% 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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