Equity Analysis /
United States of America

US : Old National Bancorp - ONB | Raising EPS Estimates for Higher Revenue, Lower Provision

    Contributors
    Ken Kohut
    Daniel Tamayo
    CGS-CIMB
    20 January 2021
    Published byCGS-CIMB

    We reiterate our Market Perform rating on ONB shares following its release of 4Q results. It was a solid quarter for the bank as balance sheet growth (ex. PPP) was well above expectations and fee income impressed, although operating expenses rose more than projected. Additionally, credit remains a