- Old National’s adjusted earnings per share (EPS) for the first quarter surpassed estimates, reaching 45 cents, which matches last year’s figure and exceeds the anticipated 43 cents.
- The actual EPS was 44 cents, compared to 40 cents in the previous year, and higher than the expected 41 cents.
- Provisions for credit losses increased significantly by 66% year-over-year, amounting to $31.4 million, exceeding the estimate of $28.4 million.
- The common equity Tier 1 ratio improved to 11.6%, up from 10.8% the previous year.
- The net interest margin (NIM) on a taxable-equivalent basis was slightly down to 3.27% compared to 3.28% the prior year, aligning with estimates.
- Net charge-offs rose by 84% year-over-year, totaling $21.6 million, which is slightly below the estimate of $22.7 million.
- Analyst recommendations for the company include 7 buys, 2 holds, and no sells.
A look at Old National Ban Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Old National Bancorp, a multi-bank holding company operating in several states, has received positive scores across various factors according to Smartkarma’s Smart Scores. With high ratings in value and dividend factors, it suggests a promising long-term outlook for investors. The company’s momentum score of 4 indicates a favorable trend in its market performance, further adding to its potential appeal for investors seeking stable returns.
Despite slightly lower scores in growth and resilience, Old National Ban‘s overall outlook remains solid, particularly with its strong emphasis on value and dividend factors. The company’s wide range of financial services offered across multiple states provides a diverse revenue stream, contributing to its attractiveness for investors looking for a reliable and well-rounded investment opportunity.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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