Old National Bank Earnings: What To Look For From ONB

Midwestern regional bank Old National Bancorp (NASDAQ:ONB) will be reporting earnings this Wednesday morning. Here’s what investors should know.

Old National Bank beat analysts’ revenue expectations last quarter, reporting revenues of $714.4 million, up 44.1% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ tangible book value per share estimates but a slight miss of analysts’ net interest income estimates.

Is Old National Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Old National Bank’s revenue to grow 46.9% year on year, improving from the 9.5% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Old National Bank rarely misses Wall Street’s revenue estimates.

Looking at Old National Bank’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Wintrust Financial delivered year-on-year revenue growth of 11.4%, beating analysts’ expectations by 1.2%, and BancFirst reported revenues up 7.8%, topping estimates by 1%. BancFirst traded up 3.6% following the results.

Read our full analysis of Wintrust Financial’s results here and BancFirst’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 10.2% on average over the last month. Old National Bank is up 12.9% during the same time and is heading into earnings with an average analyst price target of $27.36 (compared to the current share price of $24.34).

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