ASB vs. BANF

Last updated Jun 3, 2026

ASB (Associated Banc-Corp) and BANF (BancFirst Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, ASB returned 7.85%/yr vs 15.59%/yr for BANF. At a 0.44 correlation, their price movements are largely independent.

Performance

ASB vs. BANF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Associated Banc-Corp (ASB) and BancFirst Corporation (BANF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASB achieves a 9.03% return, which is significantly higher than BANF's 4.20% return. Over the past 10 years, ASB has underperformed BANF with an annualized return of 7.85%, while BANF has yielded a comparatively higher 15.59% annualized return.

ASB

• 1D: 1.47%
• 1M: -1.24%
• YTD: 9.03%
• 6M: 10.53%
• 1Y: 24.24%
• 3Y*: 24.61%
• 5Y*: 7.74%
• 10Y*: 7.85%

BANF

• 1D: 1.37%
• 1M: -2.34%
• YTD: 4.20%
• 6M: -0.44%
• 1Y: -8.37%
• 3Y*: 8.20%
• 5Y*: 11.75%
• 10Y*: 15.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASB vs. BANF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASB Associated Banc-Corp	9.03%	11.85%	16.22%	-2.86%	5.98%	37.25%	-18.93%	15.09%	-20.16%	4.96%
BANF BancFirst Corporation	4.20%	-8.04%	22.62%	12.44%	27.10%	22.79%	-2.90%	27.93%	-0.62%	11.72%

Correlation

The correlation between ASB and BANF is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.44

Over the past year, ASB and BANF have become more correlated (0.76) than their long-term average of 0.44, meaning their price movements have been converging.

Fundamentals

EPS ASB : $2.99 BANF : $7.11
PE Ratio ASB : 9.24 BANF : 15.47
PEG Ratio ASB : 0.18 BANF : 1.70
PS Ratio ASB : 0.08 BANF : 4.52
Total Revenue (TTM) ASB : $43.22B BANF : $824.33M
Gross Profit (TTM) ASB : $1.10B BANF : $683.43M
EBITDA (TTM) ASB : $509.38M BANF : $325.92M

Return for Risk

ASB vs. BANF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASB

ASB Risk / Return Rank: 66
ASB Sharpe Ratio Rank: 69
ASB Sortino Ratio Rank: 62
ASB Omega Ratio Rank: 61
ASB Calmar Ratio Rank: 68
ASB Martin Ratio Rank: 72

BANF

BANF Risk / Return Rank: 26
BANF Sharpe Ratio Rank: 27
BANF Sortino Ratio Rank: 24
BANF Omega Ratio Rank: 24
BANF Calmar Ratio Rank: 27
BANF Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASB vs. BANF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Associated Banc-Corp (ASB) and BancFirst Corporation (BANF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASB	BANF	Difference
Sharpe ratio Return per unit of total volatility	0.92	-0.31	+1.24
Sortino ratio Return per unit of downside risk	1.38	-0.26	+1.65
Omega ratio Gain probability vs. loss probability	1.18	0.97	+0.21
Calmar ratio Return relative to maximum drawdown	1.50	-0.41	+1.91
Martin ratio Return relative to average drawdown	4.33	-0.66	+4.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASB vs. BANF - Sharpe Ratio Comparison

The current ASB Sharpe Ratio is 0.92, which is higher than the BANF Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of ASB and BANF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ASB	BANF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	-0.31	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.39	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.44	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.41	-0.18

Drawdowns

ASB vs. BANF - Drawdown Comparison

The maximum ASB drawdown since its inception was -71.39%, which is greater than BANF's maximum drawdown of -57.10%. Use the drawdown chart below to compare losses from any high point for ASB and BANF.

Drawdown Indicators

	ASB	BANF	Difference
Max Drawdown Largest peak-to-trough decline	-71.39%	-57.10%	-14.29%
Max Drawdown (1Y) Largest decline over 1 year	-16.37%	-23.63%	+7.26%
Max Drawdown (3Y) Largest decline over 3 years	-31.58%	-23.63%	-7.95%
Max Drawdown (5Y) Largest decline over 5 years	-41.36%	-37.97%	-3.39%
Max Drawdown (10Y) Largest decline over 10 years	-60.22%	-57.10%	-3.12%
Current Drawdown Current decline from peak	-4.37%	-18.37%	+14.00%
Average Drawdown Average peak-to-trough decline	-20.71%	-13.95%	-6.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.69%	14.58%	-8.89%

Volatility

ASB vs. BANF - Volatility Comparison

Associated Banc-Corp (ASB) has a higher volatility of 6.60% compared to BancFirst Corporation (BANF) at 6.03%. This indicates that ASB's price experiences larger fluctuations and is considered to be riskier than BANF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASB	BANF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	6.03%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	17.89%	18.90%	-1.01%
Volatility (1Y) Calculated over the trailing 1-year period	26.35%	26.94%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.20%	30.25%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.17%	35.73%	-1.56%

Dividends

ASB vs. BANF - Dividend Comparison

ASB's dividend yield for the trailing twelve months is around 3.44%, more than BANF's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASB Associated Banc-Corp	3.44%	3.61%	3.72%	3.97%	3.51%	3.36%	4.22%	3.13%	3.13%	1.97%	1.82%	2.19%
BANF BancFirst Corporation	1.76%	1.79%	1.52%	1.71%	1.72%	1.98%	2.25%	1.99%	2.04%	1.56%	1.59%	2.39%

Financials

ASB vs. BANF - Profitability Comparison

The chart below illustrates the profitability comparison between Associated Banc-Corp and BancFirst Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ASB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Associated Banc-Corp reported a gross profit of 0.00 and revenue of 41.35B. Therefore, the gross margin over that period was 0.0%.

BANF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, BancFirst Corporation reported a gross profit of 181.00M and revenue of 181.00M. Therefore, the gross margin over that period was 100.0%.

ASB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Associated Banc-Corp reported an operating income of 0.00 and revenue of 41.35B, resulting in an operating margin of 0.0%.

BANF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, BancFirst Corporation reported an operating income of 73.61M and revenue of 181.00M, resulting in an operating margin of 40.7%.

ASB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Associated Banc-Corp reported a net income of 0.00 and revenue of 41.35B, resulting in a net margin of 0.0%.

BANF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, BancFirst Corporation reported a net income of 59.50M and revenue of 181.00M, resulting in a net margin of 32.9%.

Frequently Asked Questions

Can I hold both ASB and BANF in my portfolio?

ASB and BANF have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASB or BANF?

ASB has higher volatility (6.60%) compared to BANF (6.03%). In terms of maximum drawdown, ASB dropped -71.39% vs BANF's -57.10%.

Which has better risk-adjusted returns?

ASB currently has the higher Sharpe Ratio (0.92 vs -0.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.