Overview
Midwest bank's Q4 net income was $212.6 mln, adjusted EPS was $0.62
Net interest income rose to $588.8 mln due to asset growth and lower funding costs
Company repurchased 1.1 mln shares of common stock during the quarter
Result Drivers
NET INTEREST INCOME - Growth in interest-earning assets and lower funding costs drove net interest income increase
LOAN GROWTH - Strong commercial loan production contributed to loan growth
NONINTEREST INCOME - Record capital markets and higher mortgage banking revenue, offset by lower other income
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Adjusted EPS
$0.62
Q4 EPS
$0.55
Q4 Net Income
$212.59 mln
Q4 Net Interest Income
$580.83 mln
Q4 Credit Loss Provision
$32.75 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Old National Bancorp is $26.00, about 13.5% above its January 20 closing price of $22.90
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nGNX1tmwlH
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
