Old National Bancorp reports results for the quarter ended in March - Earnings Summary

Old National Bancorp

23/04/2024 15:52

* Old National Bancorp  ONB.OQ  reported quarterly adjusted
earnings of 45 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 54 cents.  The mean expectation of eight analysts for the
quarter was for earnings of 43 cents per share. Wall Street
expected results to range from 42 cents to 44 cents per share.
    * Revenue fell 4% to $433.98 million from a year ago;
analysts
expected $439.91 million. 
    * Old National Bancorp's reported EPS for the quarter was 40
cents​.
    * The company reported quarterly net income of $116.25
million.
    * Old National Bancorp shares had fallen by 5.5% this
quarter and
lost 2.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.7%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Old National
Bancorp is $20.00 
This summary was machine generated from LSEG data April 23 at
02:52 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.43           0.45           Beat
 Dec. 31 2023      0.48           0.46           Missed
 Sep. 30 2023      0.50           0.51           Beat
 Jun. 30 2023      0.50           0.54           Beat