- United States
- /
- Banks
- /
- NasdaqGS:ONB
Old National Bancorp Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line
Old National Bancorp (NASDAQ:ONB) Full Year 2023 Results
Key Financial Results
- Revenue: US$1.76b (up 12% from FY 2022).
- Net income: US$565.9m (up 37% from FY 2022).
- Profit margin: 32% (up from 26% in FY 2022). The increase in margin was driven by higher revenue.
- EPS: US$1.95 (up from US$1.51 in FY 2022).
ONB Banking Performance Indicators
- Net interest margin (NIM): 3.54% (up from 3.47% in FY 2022).
- Cost-to-income ratio: 53.7% (down from 58.0% in FY 2022).
- Non-performing loans: 0.83% (up from 0.81% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Old National Bancorp Revenues Beat Expectations
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Old National Bancorp's balance sheet health.
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About NasdaqGS:ONB
Old National Bancorp
Operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States.
High growth potential with excellent balance sheet and pays a dividend.