Analysts on Wall Street project that Old National Bancorp (ONB) will announce quarterly earnings of $0.46 per share in its forthcoming report, representing no change year over year. Revenues are projected to reach $486.03 million, increasing 3.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Old National Bancorp metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Efficiency Ratio' should arrive at 53.0%. The estimate compares to the year-ago value of 59%.
Analysts expect 'Net interest margin (FTE)' to come in at 3.3%. The estimate is in contrast to the year-ago figure of 3.4%.
Analysts predict that the 'Average Balance - Total earning assets' will reach $48.22 billion. Compared to the present estimate, the company reported $43.70 billion in the same quarter last year.
According to the collective judgment of analysts, 'Total noninterest income' should come in at $85.94 million. Compared to the current estimate, the company reported $100.09 million in the same quarter of the previous year.
The consensus among analysts is that 'Net Interest Income (FTE)' will reach $400.09 million. The estimate is in contrast to the year-ago figure of $370.51 million.
The average prediction of analysts places 'Service charges on deposit accounts' at $19.83 million. The estimate is in contrast to the year-ago figure of $18.67 million.
Analysts forecast 'Wealth and investment services fees' to reach $29.36 million. The estimate is in contrast to the year-ago figure of $27.66 million.
The consensus estimate for 'Mortgage banking revenue' stands at $6.55 million. Compared to the present estimate, the company reported $3.69 million in the same quarter last year.
View all Key Company Metrics for Old National Bancorp here>>>
Over the past month, Old National Bancorp shares have recorded returns of -2.3% versus the Zacks S&P 500 composite's -3.3% change. Based on its Zacks Rank #1 (Strong Buy), ONB will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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