A fastener and panel assembly, such as a stud or nut fastener and sheet metal panel assembly, wherein the fastener is permanently attached to the panel in a panel opening. The fastener includes a body portion having an annular bearing surface, preferably including a plurality of radially extending ribs bearing against the panel surrounding the panel opening. The fastener includes a riveting portion extending through the panel opening having a radial groove preferably spaced from the overall plane of the panel and the panel is deformed into the groove, substantially filling the groove and forming a secure mechanical interlock. In the stud fastener embodiment, the shank portion of the fastener extends through the panel opening, which is preferably threaded to attach a structural element to the panel. The width of the radial groove in the fastener is preferably equal to or less than the thickness of the panel and the panel preferably includes a generally conical portion which is received in the generally radial groove.