Stock Track | Old National Bancorp Soars 5.07% on Strong Q4 Earnings and Sector Rally

Stock Track

01/22

Old National Bancorp (ONB) saw its stock price surge by 5.07% during intraday trading on Wednesday, outperforming the broader market. The rally was driven by the company's robust fourth-quarter earnings report, which exceeded analyst expectations.

The bank reported Q4 net income of USD 212.6 million, with adjusted earnings per share (EPS) of USD 0.62, beating the consensus estimate of USD 0.59. This performance was supported by loan growth and lower funding costs, which boosted net interest income. Additionally, the regional banking sector as a whole experienced a rally, with the S&P 500 Regional Bank Index rising 3.3%, further lifting ONB's shares.

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The rally was driven by the company's robust fourth-quarter earnings report, which exceeded analyst expectations.</p><p>The bank reported Q4 net income of USD 212.6 million, with adjusted earnings per share (EPS) of USD 0.62, beating the consensus estimate of USD 0.59. This performance was supported by loan growth and lower funding costs, which boosted net interest income. 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