Wall Street analysts expect Old National Bancorp (ONB) to post quarterly earnings of $0.59 per share in its upcoming report, which indicates a year-over-year increase of 20.4%. Revenues are expected to be $706.83 million, up 42.6% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Old National Bancorp metrics that are commonly monitored and projected by Wall Street analysts.
The consensus among analysts is that 'Efficiency Ratio' will reach 53.3%. The estimate is in contrast to the year-ago figure of 54.4%.
The combined assessment of analysts suggests that 'Net interest margin (FTE)' will likely reach 3.6%. The estimate compares to the year-ago value of 3.3%.
The collective assessment of analysts points to an estimated 'Average Balance - Total earning assets' of $64.03 billion. Compared to the present estimate, the company reported $48.41 billion in the same quarter last year.
The average prediction of analysts places 'Total noninterest income' at $121.50 million. The estimate is in contrast to the year-ago figure of $95.77 million.
According to the collective judgment of analysts, 'Net Interest Income (FTE)' should come in at $585.32 million. Compared to the current estimate, the company reported $399.96 million in the same quarter of the previous year.
It is projected by analysts that the 'Service charges on deposit accounts' will reach $27.79 million. Compared to the current estimate, the company reported $20.58 million in the same quarter of the previous year.
Analysts forecast 'Wealth and investment services fees' to reach $40.04 million. The estimate compares to the year-ago value of $30.01 million.
Based on the collective assessment of analysts, 'Mortgage banking revenue' should arrive at $9.72 million. The estimate is in contrast to the year-ago figure of $7.03 million.
View all Key Company Metrics for Old National Bancorp here>>>
Old National Bancorp shares have witnessed a change of -0.6% in the past month, in contrast to the Zacks S&P 500 composite's +1.6% move. With a Zacks Rank #2 (Buy), ONB is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Old National Bancorp (ONB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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