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ONB vs ZION
Which Stock Would AI Choose? Old National Bancorp (ONB) vs. Zions Bancorporation (ZION) Stock Comparison
Key Takeaways
- Different regional footprints: ONB operates primarily across the Midwest, while ZION serves fast-growing markets across the Western U.S.
- Profitability diverges: ZION posts a higher return on equity (a measure of how efficiently a company generates profit from shareholder capital) near 16%, versus roughly 11% for ONB.
- Valuation gap: ONB trades at a higher trailing price-to-earnings multiple, while ZION carries a more compressed valuation despite stronger recent earnings momentum.
- Credit quality is strong at both: Each bank reported exceptionally low net charge-offs, signaling a stable credit environment in recent quarters.
- Growth strategies differ: ONB is integrating a large acquisition and scaling organic lending, while ZION is building fee-based businesses such as capital markets and multifamily lending.
Introduction
Regional banks sit at the center of several important market narratives today, including the direction of interest rates, loan demand, and credit quality. ONB (Old National Bancorp) and ZION (Zions Bancorporation) are two mid-sized financial institutions that offer investors a useful window into these themes from very different regional angles. This stock comparison is most relevant to investors and traders evaluating relative performance, market positioning, and the trade-offs between a Midwest-focused franchise and a Western U.S. lender. By examining recent momentum, profitability, and strategic catalysts, readers can better assess how each bank is positioned in the current environment.
ONB Overview and Recent Performance
Old National Bancorp, headquartered in Evansville, Indiana, is the holding company for Old National Bank and provides commercial and consumer banking services across the Midwest. The company has grown substantially through acquisitions, most notably its integration of Bremer Financial, which has reshaped its balance sheet and expanded its regional reach. In recent market activity, ONB has traded near the middle of its 52-week range, with a beta below 1.0, indicating relatively lower volatility than the broader market.
Recent quarters have shown accelerating earnings, with a notable year-over-year jump in net income supported by revenue growth and a record efficiency ratio. Management has raised its loan-growth outlook, citing a healthy lending pipeline, while fee income and net interest margin (the spread between what a bank earns on loans and pays on deposits) have been resilient. Analyst sentiment has turned more constructive, with several firms nudging price targets higher on expectations of steady regional-bank fundamentals and organic growth.
ZION Overview and Recent Performance
Zions Bancorporation, based in Salt Lake City, Utah, operates across 11 Western states, including California, Texas, Arizona, and Colorado. It is a national leader in Small Business Administration lending and public finance advisory services. ZION has also distinguished itself through a growing capital markets division and a recently completed acquisition of a multifamily agency lending business, positioning the bank among a small group of institutions with direct access to Fannie Mae, Freddie Mac, and CMBS (commercial mortgage-backed securities) platforms.
In its most recent quarterly report, ZION delivered earnings that exceeded consensus estimates, with earnings per share rising roughly 20% year over year on improved credit quality and higher net interest income. Customer deposits grew at a strong annualized pace, and credit losses remained near historically low levels. While the net interest margin slipped modestly and the bank trimmed its operating-leverage guidance, the overall trend in fee income and deposit growth has been a key driver of sentiment.
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Head-to-Head Comparison
Although both are regional banks with comparable market capitalizations near $9 billion to $10 billion, ONB and ZION differ meaningfully in strategy and positioning. ONB has grown aggressively through M&A (mergers and acquisitions), most notably the Bremer deal, which lifted its asset base and created scale in the Midwest. Its forward-looking story centers on extracting cost savings and converting a larger footprint into organic loan growth. ZION, by contrast, is emphasizing fee-based diversification, expanding capital markets, wealth management, and multifamily lending capabilities rather than large acquisitions.
On profitability, ZION holds a clear advantage in return on equity, while ONB has shown sharper recent earnings acceleration tied to integration and revenue growth. Valuation also diverges: ONB trades at a higher trailing P/E (price-to-earnings) ratio, while ZION offers a lower multiple and a higher dividend yield. Risk profiles differ as well. ONB carries execution risk from integration, while ZION faces sensitivity to Western commercial real estate and deposit-cost pressure. Both maintain strong credit metrics, which has supported investor confidence across recent market activity.
Tickeron AI Verdict
Based on observable factors, Tickeron's AI would likely lean toward ZION as the more consistently positioned of the two in the current environment. ZION combines a higher return on equity, a more compressed valuation, stronger relative credit metrics, and a diversified stream of fee income that has been compounding steadily. Its deposit growth and improving earnings momentum provide a foundation that quantitative models tend to reward. ONB, while benefiting from robust acquisition-driven growth and constructive analyst revisions, carries greater integration uncertainty and trades at a higher multiple. Because trend consistency and stability favor ZION, the AI's probabilistic assessment currently tilts in its direction, though ONB remains a credible alternative for investors focused on organic growth and efficiency gains.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is ONB is a Buy and ZION is a StrongBuy.
ONB's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for ONB turned positive on October 15, 2026. Looking at past instances where ONB's MACD turned positive, the stock continued to rise in 26 of 41 cases over the following month. The odds of a continued upward trend are 63%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 34 of 57 cases where ONB's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 60%.
The Momentum Indicator moved above the 0 level on October 20, 2026. You may want to consider a long position or call options on ONB as a result. In 55 of 88 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 62%.
Following a +2.97% 3-day Advance, the price is estimated to grow further. Considering data from situations where ONB advanced for three days, in 168 of 290 cases, the price rose further within the following month. The odds of a continued upward trend are 58%.
Bearish Trend Analysis
ONB moved below its 50-day moving average on October 30, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ONB declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 56%.
ONB broke above its upper Bollinger Band on October 20, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for ONB entered a downward trend on October 12, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 9 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 28 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 57, placing this stock better than average.
The Tickeron Valuation Rating of 45 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.149) is normal, around the industry mean (1.258). P/E Ratio (11.053) is within average values for comparable stocks, (13.468). Projected Growth (PEG Ratio) (0.160) is also within normal values, averaging (1.190). Dividend Yield (0.023) settles around the average of (0.036) among similar stocks. P/S Ratio (3.482) is also within normal values, averaging (3.738).
The Tickeron Price Growth Rating for this company is 48 (best 1 - 100 worst), indicating steady price growth. ONB’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is 54 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
ZION in upward trend: 10-day moving average moved above 50-day moving average on October 30, 2026
The 10-day moving average for ZION crossed bullishly above the 50-day moving average on October 30, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 13 of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 76%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 20, 2026. You may want to consider a long position or call options on ZION as a result. In 60 of 82 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 73%.
The Moving Average Convergence Divergence (MACD) for ZION just turned positive on October 08, 2026. Looking at past instances where ZION's MACD turned positive, the stock continued to rise in 34 of 49 cases over the following month. The odds of a continued upward trend are 69%.
ZION moved above its 50-day moving average on October 29, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +2.79% 3-day Advance, the price is estimated to grow further. Considering data from situations where ZION advanced for three days, in 215 of 332 cases, the price rose further within the following month. The odds of a continued upward trend are 65%.
The Aroon Indicator entered an Uptrend today. In 147 of 239 cases where ZION Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 62%.
Bearish Trend Analysis
The 10-day RSI Indicator for ZION moved out of overbought territory on October 23, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 37 similar instances where the indicator moved out of overbought territory. In 28 of the 37 cases, the stock moved lower in the following days. This puts the odds of a move lower at 76%.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 43 of 66 cases where ZION's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 65%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ZION declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 70%.
ZION broke above its upper Bollinger Band on October 20, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 9 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 46 (best 1 - 100 worst), indicating steady price growth. ZION’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 57 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 75 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.253) is normal, around the industry mean (1.258). P/E Ratio (8.327) is within average values for comparable stocks, (13.468). Projected Growth (PEG Ratio) (3.417) is also within normal values, averaging (1.190). Dividend Yield (0.029) settles around the average of (0.036) among similar stocks. P/S Ratio (2.573) is also within normal values, averaging (3.738).
The Tickeron Profit vs. Risk Rating rating for this company is 81 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. ZION’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 57, placing this stock worse than average.
ONB | ZION | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 50 | 50 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 45 Fair valued | 75 Overvalued | |
PROFIT vs RISK RATING 1..100 | 28 | 81 | |
SMR RATING 1..100 | 9 | 9 | |
PRICE GROWTH RATING 1..100 | 48 | 46 | |
P/E GROWTH RATING 1..100 | 54 | 57 | |
SEASONALITY SCORE 1..100 | 50 | n/a |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
ONB's Valuation (45) in the Regional Banks industry is in the same range as ZION (75). This means that ONB’s stock grew similarly to ZION’s over the last 12 months.
ONB's Profit vs Risk Rating (28) in the Regional Banks industry is somewhat better than the same rating for ZION (81). This means that ONB’s stock grew somewhat faster than ZION’s over the last 12 months.
ONB's SMR Rating (9) in the Regional Banks industry is in the same range as ZION (9). This means that ONB’s stock grew similarly to ZION’s over the last 12 months.
ZION's Price Growth Rating (46) in the Regional Banks industry is in the same range as ONB (48). This means that ZION’s stock grew similarly to ONB’s over the last 12 months.
ONB's P/E Growth Rating (54) in the Regional Banks industry is in the same range as ZION (57). This means that ONB’s stock grew similarly to ZION’s over the last 12 months.
| ONB | ZION | |
|---|---|---|
| RSI ODDS (%) | N/A | 4 days ago 76% |
| Stochastic ODDS (%) | 4 days ago 60% | 4 days ago 65% |
| Momentum ODDS (%) | 4 days ago 63% | 4 days ago 73% |
| MACD ODDS (%) | 4 days ago 63% | 4 days ago 69% |
| TrendWeek ODDS (%) | 4 days ago 58% | 4 days ago 65% |
| TrendMonth ODDS (%) | 4 days ago 54% | 4 days ago 62% |
| Advances ODDS (%) | 11 days ago 58% | 12 days ago 65% |
| Declines ODDS (%) | 6 days ago 56% | 6 days ago 70% |
| BollingerBands ODDS (%) | 4 days ago 64% | 4 days ago 67% |
| Aroon ODDS (%) | 4 days ago 64% | 4 days ago 62% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
ONB’s FA Score shows that 2 FA rating(s) are green while ZION’s FA Score has 1 green FA rating(s).
- ONB’s FA Score: 2 green, 3 red.
- ZION’s FA Score: 1 green, 4 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
ONB’s TA Score shows that 4 TA indicator(s) are bullish while ZION’s TA Score has 6 bullish TA indicator(s).
- ONB’s TA Score: 4 bullish, 4 bearish.
- ZION’s TA Score: 6 bullish, 4 bearish.
Price Growth
ONB (@Regional Banks) experienced а -0.91% price change this week, while ZION (@Regional Banks) price change was -1.25% for the same time period.
The average weekly price growth across all stocks in the @Regional Banks industry was +0.99%. For the same industry, the average monthly price growth was +1.83%, and the average quarterly price growth was +8.54%.
Reported Earning Dates
ONB is expected to report earnings on Jan 26, 2027.
ZION is expected to report earnings on Jan 26, 2027.
Industries' Descriptions
@Regional Banks (+0.99% weekly)Regional banks have a smaller reach than major banks, and cater mostly to one region of a country, such as a state or within a group of states. They offer services often similar – albeit with some limitations/smaller scale – compared to major banks. Taking deposits, making loans, mortgages, leases, credit cards , fund management, insurance and investment banking. SunTrust Banks, State Street Corp., M&T Bank Corp. are some examples of U.S. regional banks.
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ZION and
Correlation & Price change
A.I.dvisor indicates that over the last year, ZION has been closely correlated with WTFC. These tickers have moved in lockstep 88% of the time. This A.I.-generated data suggests there is a high statistical probability that if ZION jumps, then WTFC could also see price increases.
| Ticker / NAME | Correlation To ZION | 1D Price Change % | ||
|---|---|---|---|---|
| ZION | 100% | -1.30% | ||
| WTFC - ZION | 88% Closely correlated | -1.14% | ||
| FNB - ZION | 87% Closely correlated | -1.42% | ||
| KEY - ZION | 87% Closely correlated | -1.72% | ||
| CFG - ZION | 86% Closely correlated | -2.19% | ||
| ONB - ZION | 86% Closely correlated | -0.55% | ||
More | ||||
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| JAAA | 50.44 | -0.19 | -0.38% |
| Janus Henderson AAA CLO ETF (JAAA) | |||
| NBIE | 26.42 | -0.32 | -1.21% |
| Neuberger International Core Equity ETF (NBIE) | |||
| OVF | 29.59 | -0.62 | -2.05% |
| Overlay Shares Foreign Equity ETF (OVF) | |||
| PTL | 269.36 | -5.94 | -2.16% |
| Inspire 500 ETF (PTL) | |||
| TYLG | 40.65 | -1.74 | -4.11% |
| Global X Information Technology Covered Call & Growth ETF (TYLG) | |||