ONB vs FNB

For growth investors, Old National Bancorp (ONB) is the stronger pick with 25.

5% revenue growth year-over-year, versus 4. 9% for F. N. B. Corporation (FNB). F. N. B. Corporation (FNB) offers the better valuation at 11. 5x trailing P/E (10. 4x forward), making it the more compelling value choice. Analysts rate F. N. B. Corporation (FNB) a "Buy" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, F.

N. B. Corporation (FNB) is the cheapest at 11. 5x versus Old National Bancorp at 13. 5x. On forward P/E, Old National Bancorp is actually cheaper at 9. 3x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: F. N. B. Corporation wins at 0. 81x versus Old National Bancorp's 1. 64x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, F.

N. B. Corporation (FNB) delivered a total return of +50. 2%, compared to +38. 4% for Old National Bancorp (ONB). Over 10 years, the gap is even starker: ONB returned +137. 0% versus FNB's +78. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), F.

N. B. Corporation (FNB) is the lower-risk stock at 1. 22β versus Old National Bancorp's 1. 23β — meaning ONB is approximately 1% more volatile than FNB relative to the S&P 500. On balance sheet safety, F. N. B. Corporation (FNB) carries a lower debt/equity ratio of 58% versus 88% for Old National Bancorp — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Old National Bancorp (ONB) is pulling ahead at 25.

5% versus 4. 9% for F. N. B. Corporation (FNB). On earnings-per-share growth, the picture is similar: F. N. B. Corporation grew EPS 22. 8% year-over-year, compared to 6. 5% for Old National Bancorp. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

F.

N. B. Corporation (FNB) is the more profitable company, earning 21. 0% net margin versus 18. 0% for Old National Bancorp — meaning it keeps 21. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FNB leads at 24. 8% versus 23. 6% for ONB. At the gross margin level — before operating expenses — ONB leads at 63. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, F. N. B. Corporation (FNB) is the more undervalued stock at a PEG of 0. 81x versus Old National Bancorp's 1. 64x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Old National Bancorp (ONB) trades at 9. 3x forward P/E versus 10. 4x for F. N. B. Corporation — 1. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FNB: 14. 4% to $20. 50.

In this comparison, ONB (2.

4% yield) pays a dividend. FNB does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Old National Bancorp (ONB) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.

23), 2. 4% yield, +137. 0% 10Y return). Both have compounded well over 10 years (ONB: +137. 0%, FNB: +78. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: ONB is a small-cap high-growth stock; FNB is a small-cap deep-value stock. ONB pays a dividend while FNB does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.