Old National vs StepStone Group

Old National Bancorp. and STEPSTONE GROUP INC-CLASS A are compared on this page to illuminate differences in business models, financial performance, and market context. The aim is to present clear, accessible information about how each organisation operates, competes, and serves its markets in a neutral manner. Educational content, not financial advice.

Comparison Snapshot

Key Financial Metrics

ONB

Metric

STEP

$8.95B

Market Cap

$8.75B

8.56%

Potential Profit

-0.75%

Buy

Analyst Rating

Buy

Investment Analysis

Old National

ONB

Pros

Old National Bancorp exceeded Q3 2025 earnings per share and revenue forecasts, demonstrating strong operational performance and efficiency.
The company successfully integrated Bremer Bank’s systems, enhancing its operational efficiency and growth momentum in loan production and deposits.
Analysts have a consensus 'Buy' rating with an average price target indicating an 18% to 28% potential upside over the next year.

Considerations

Market capitalization around $8 billion places it as a regional player, potentially limiting scale advantages compared to larger national banks.
Despite positive momentum, its beta of 0.88 suggests moderate market volatility exposure relative to the broader market.
Forward price-to-earnings ratio near 9.26 may indicate limited valuation upside relative to peers in the banking sector under certain market conditions.

StepStone Group

STEP

Pros

StepStone Group operates in the alternative asset management space, providing exposure to a niche but growing investment sector.
Its business model benefits from rising demand for private markets investments globally, underpinning potential fee growth.
Class A shares are listed on NASDAQ, providing liquidity and transparency for investors.

Considerations

StepStone's performance is sensitive to private equity market cycles and fundraising success, exposing it to cyclicality risks.
Limited recent public financial disclosures restrict visibility into near-term profitability and revenue trends compared to well-covered banks.
Stock price volatility can be influenced by broader capital market conditions impacting alternative asset valuations and investor sentiment.

About The Companies

Old National (ONB)

Old National Bancorp is the financial holding company for Old National Bank, a prominent commercial bank serving communities across the American Midwest and Southeast. With banking centres in states like Indiana, Michigan, and Tennessee, the company provides a comprehensive suite of financial services. Beyond traditional consumer and commercial banking, Old National offers wealth management, capital markets, and investment advisory services. This diversified model allows it to cater to a broad range of clients, from individuals to commercial enterprises. For investors, Old National Bancorp represents a regional banking player with deep community roots. As with any financial stock, its performance can be influenced by economic trends and interest rate changes, and returns are not guaranteed.

StepStone Group (STEP)

StepStone Group is a global investment firm that specialises in private markets. It offers customised investment solutions, advisory services, and data analytics to its clients, which include institutional investors like pension funds. The firm helps clients build portfolios across asset classes that aren't typically available on public stock exchanges, such as private equity, infrastructure, private debt, and real estate. StepStone uses a variety of strategies, including investing in new funds (primaries), buying stakes in existing funds (secondaries), and investing directly into companies alongside other fund managers (co-investments). With significant revenue streams suggesting strong demand for its services, StepStone plays a key role for investors looking for exposure to alternative asset classes. However, like all investments, its value can go down as well as up, and returns are not guaranteed.

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Comparison Snapshot