ASB vs UMBF

For growth investors, UMB Financial Corporation (UMBF) is the stronger pick with 68.

5% revenue growth year-over-year, versus 16. 8% for Associated Banc-Corp (ASB). 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 UMB Financial Corporation (UMBF) a "Buy" — based on 18 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 UMB Financial Corporation at 14. 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: UMB Financial Corporation wins at 1. 14x versus Associated Banc-Corp's 1. 17x — a reasonable growth-adjusted valuation.

Over the past 5 years, Associated Banc-Corp (ASB) delivered a total return of +41.

7%, compared to +41. 5% for UMB Financial Corporation (UMBF). Over 10 years, the gap is even starker: UMBF returned +165. 1% 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), UMB Financial Corporation (UMBF) is the lower-risk stock at 1.

19β versus Associated Banc-Corp's 1. 26β — meaning ASB is approximately 5% more volatile than UMBF relative to the S&P 500. On balance sheet safety, UMB Financial Corporation (UMBF) carries a lower debt/equity ratio of 49% versus 84% for Associated Banc-Corp — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), UMB Financial Corporation (UMBF) is pulling ahead at 68.

5% versus 16. 8% for Associated Banc-Corp (ASB). On earnings-per-share growth, the picture is similar: Associated Banc-Corp grew EPS 284. 7% year-over-year, compared to 1. 6% for UMB 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. 8% for UMB 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 20. 3% for UMBF. 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, UMB Financial Corporation (UMBF) is the more undervalued stock at a PEG of 1. 14x versus Associated Banc-Corp's 1. 17x. 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 10. 3x for UMB Financial Corporation — 0. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for UMBF: 14. 7% to $150. 40.

All stocks in this comparison pay dividends.

Associated Banc-Corp (ASB) offers the highest yield at 3. 3%, versus 1. 4% for UMB Financial Corporation (UMBF).

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

19), 1. 4% yield, +165. 1% 10Y return). Both have compounded well over 10 years (UMBF: +165. 1%, 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.

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.