Old National Bancorp (ONB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Old National Bancorp (ONB) reported $470.6 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 16.2%. EPS of $0.46 for the same period compares to $0.56 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $448.87 million, representing a surprise of +4.84%. The company delivered an EPS surprise of -4.17%, with the consensus EPS estimate being $0.48.
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: 59% compared to the 52.8% average estimate based on three analysts.
Net interest margin (FTE): 3.4% versus 3.4% estimated by three analysts on average.
Net Charge-off (% of Average Loans): 0.1% versus 0.2% estimated by two analysts on average.
Average Balance - Total earning assets: $43.70 billion versus the two-analyst average estimate of $43.70 billion.
Total noninterest income: $100.09 million compared to the $79.74 million average estimate based on three analysts.
Net Interest Income (FTE): $370.51 million versus $369.14 million estimated by three analysts on average.
Service charges on deposit accounts: $18.67 million compared to the $18.42 million average estimate based on two analysts.
Wealth and investment services fees: $27.66 million compared to the $26.73 million average estimate based on two analysts.
Mortgage banking revenue: $3.69 million versus the two-analyst average estimate of $4.71 million.
View all Key Company Metrics for Old National Bancorp here>>>
Shares of Old National Bancorp have remained unchanged over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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