Old National Bancorp Posts $720.4M in Q3 Revenue
ONB sits 29% above its 52-week low of $19.6.
Summary
Old National Bancorp reported third-quarter revenue of $720.4 million, the first hard number from its Q3 release, along with net income of $250.0 million, or $0.66 per diluted share. That compares against a strong Q2, when net income hit $253.4 million, or $0.65 per diluted share, more than double the prior-year period on loan and deposit growth and lower credit provisions. Revenue alone doesn't tell you the margin or credit story, so the profit figure and provision line in the full release are what matter. The stock trades near $25.30 on a roughly $9.7 billion market cap, and the company has been actively returning capital, including a $400 million buyback and a recent $50 million repurchase from Otto Bremer Trust.
At the time of this announcement, ONB was trading at $25.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $9.7B. The 52-week trading range was $19.60 to $27.36. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.