- Old National’s adjusted earnings per share (EPS) for the third quarter was 59 cents, beating the estimated 55 cents and up from 46 cents year-over-year.
- The reported EPS was 46 cents, slightly lower than the estimated 48 cents but higher than the previous year’s 44 cents.
- The provision for credit losses decreased by 6.2% year-over-year to $26.7 million, which was below the estimated $29.9 million.
- Common equity Tier 1 ratio remained steady at 11% compared to the previous year.
- The net interest margin (NIM) on a taxable-equivalent basis rose to 3.64% from 3.32% year-over-year, exceeding the estimated 3.58%.
- Net charge-offs increased by 72% year-over-year to $30.0 million, slightly above the expected $29.9 million.
- Analyst ratings indicate 8 buy recommendations, 4 holds, and no sell recommendations.
A look at Old National Ban Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| 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
Analysts evaluating the Smartkarma Smart Scores for Old National Bancorp see a promising outlook for the company. With solid scores across the board, including high marks for value, dividend, and growth potential, Old National Bancorp appears well-positioned for long-term success. While resilience and momentum scores slightly trail behind, the overall assessment remains positive.
Old National Bancorp’s operations span multiple states, offering a range of financial services to both commercial and consumer clients. With a diverse portfolio that includes loans, mortgage services, credit cards, and investment products, the company demonstrates a comprehensive approach to meeting the needs of its customers. As the company continues to enhance its offerings and adapt to market trends, investors may find Old National Bancorp to be a stable choice with growth potential.
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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