Old National Bancorp: Net Interest Income May Have Bottomed Out

Apr. 25, 2024 11:21 AM ETOld National Bancorp (ONB) Stock
Eugenio Catone profile picture
Eugenio Catone
2.62K Followers

Summary

  • Old National's quarterly report shows positive results with EPS beating expectations and competitive advantage on deposits.
  • Total loans have increased, particularly in the C&I loans segment, which is expected to drive growth in the coming years.
  • The bank's securities portfolio has unrealized losses, but reinvestments in high-quality bonds could boost net interest income/margin.
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Richard Drury

Old National's (NASDAQ:ONB) Q1 2024 results were recently released:

  • Non-GAAP EPS of $0.45 beat by $0.02.
  • Revenue of $433.98M (-4.0% Y/Y) misses by $6.02M.

At first glance, these do not seem exciting, but actually the quarterly report was positive. The bank maintained

This article was written by

Eugenio Catone profile picture
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Hi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am currently studying for CFA Level 1. My interest in financial markets started about 5 years ago when I accidentally came across a video about trading. That was the spark that introduced me to a new world, but over time I realized that it was not my path: too many charts, lines, and not very concrete concepts for a pragmatic person like me. I needed something different and that I found in fundamental analysis. It is a totally different approach and one that evaluates the actual results achieved by a company rather than the candlesticks made by its price per share. That was the turning point for me and I have not stopped learning ever since. From there, the degree in Business Administration, my interest in CFA and recently the title of Popular Investor on eToro. I mainly invest in stocks and ETFs; I prefer US companies but I often analyze European or Chinese companies as well. Being young, my investments always have a very long-term view; I often take a contrarian view. One of the sectors that interests me the most is banking, as I believe it is fundamental to understanding the health of an economy. I am also interested in Macroeconomics. Seeking Alpha is a way for me to express my opinion and meet new people. My articles are intended as pure entertainment and I hope you will find them interesting.

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