ASB vs BOKF

For growth investors, Associated Banc-Corp (ASB) is the stronger pick with 16.

8% revenue growth year-over-year, versus 10. 4% for BOK Financial Corporation (BOKF). Associated Banc-Corp (ASB) offers the better valuation at 10. 3x trailing P/E (9. 7x forward), making it the more compelling value choice. Analysts rate Associated Banc-Corp (ASB) a "Hold" — based on 20 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, Associated Banc-Corp (ASB) is the cheapest at 10.

3x versus BOK Financial Corporation at 16. 4x. On forward P/E, Associated Banc-Corp is actually cheaper at 9. 7x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Associated Banc-Corp wins at 1. 17x versus BOK Financial Corporation's 4. 38x — a reasonable growth-adjusted valuation.

Over the past 5 years, BOK Financial Corporation (BOKF) delivered a total return of +59.

4%, compared to +41. 7% for Associated Banc-Corp (ASB). Over 10 years, the gap is even starker: BOKF returned +168. 5% versus ASB's +103. 5%. 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), BOK Financial Corporation (BOKF) is the lower-risk stock at 1.

03β versus Associated Banc-Corp's 1. 26β — meaning ASB is approximately 22% more volatile than BOKF relative to the S&P 500. On balance sheet safety, BOK Financial Corporation (BOKF) carries a lower debt/equity ratio of 80% versus 84% for Associated Banc-Corp — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Associated Banc-Corp (ASB) is pulling ahead at 16.

8% versus 10. 4% for BOK Financial Corporation (BOKF). On earnings-per-share growth, the picture is similar: Associated Banc-Corp grew EPS 284. 7% year-over-year, compared to 1. 5% for BOK Financial Corporation. 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.

Associated Banc-Corp (ASB) is the more profitable company, earning 19.

3% net margin versus 15. 6% for BOK Financial Corporation — meaning it keeps 19. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ASB leads at 23. 5% versus 19. 8% for BOKF. At the gross margin level — before operating expenses — ASB leads at 58. 3%, 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, Associated Banc-Corp (ASB) is the more undervalued stock at a PEG of 1. 17x versus BOK Financial Corporation's 4. 38x. A PEG below 1. 5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Associated Banc-Corp (ASB) trades at 9. 7x forward P/E versus 13. 0x for BOK Financial Corporation — 3. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ASB: 4. 5% to $29. 75.

All stocks in this comparison pay dividends.

Associated Banc-Corp (ASB) offers the highest yield at 3. 3%, versus 1. 7% for BOK Financial Corporation (BOKF).

For long-horizon retirement investors, BOK Financial Corporation (BOKF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.

03), 1. 7% yield, +168. 5% 10Y return). Both have compounded well over 10 years (BOKF: +168. 5%, ASB: +103. 5%), 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: ASB is a small-cap high-growth stock; BOKF is a mid-cap deep-value stock. 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.