Associated Banc (NYSE:ASB) Coverage Initiated by Analysts at Stephens

28 Mar 2026, 09:58 by Kim Johansen · The Markets Daily

Stephens assumed coverage on shares of Associated Banc (NYSE:ASB – Free Report) in a research report released on Friday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $29.00 price target on the bank’s stock.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, January 23rd. Truist Financial decreased their price target on shares of Associated Banc from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. Royal Bank Of Canada boosted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. Weiss Ratings raised Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th. Finally, Piper Sandler raised their price objective on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Associated Banc has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Get Our Latest Research Report on Associated Banc

Associated Banc Stock Down 2.0%

NYSE:ASB opened at $24.86 on Friday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.80. Associated Banc has a twelve month low of $18.32 and a twelve month high of $29.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $26.68 and a 200-day simple moving average of $26.15.

Associated Banc (NYSE:ASB – Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $393.52 million for the quarter, compared to analysts’ expectations of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period in the prior year, the business posted $0.72 earnings per share. Analysts anticipate that Associated Banc will post 2.43 EPS for the current year.

Associated Banc announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.24 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.9%. Associated Banc’s payout ratio is currently 34.66%.

Insider Activity

In related news, Director John B. Williams sold 2,325 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total value of $65,216.25. Following the completion of the transaction, the director owned 70,959 shares of the company’s stock, valued at $1,990,399.95. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eileen A. Kamerick sold 6,600 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $28.02, for a total value of $184,932.00. Following the sale, the director owned 49,264 shares of the company’s stock, valued at approximately $1,380,377.28. This represents a 11.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 23,656 shares of company stock worth $677,789. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after purchasing an additional 545,185 shares during the last quarter. State Street Corp grew its stake in Associated Banc by 1.7% in the fourth quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock valued at $224,404,000 after purchasing an additional 147,372 shares during the last quarter. LSV Asset Management grew its stake in Associated Banc by 1.1% in the fourth quarter. LSV Asset Management now owns 3,663,163 shares of the bank’s stock valued at $94,363,000 after purchasing an additional 38,900 shares during the last quarter. Verition Fund Management LLC raised its holdings in Associated Banc by 50.6% in the fourth quarter. Verition Fund Management LLC now owns 2,867,172 shares of the bank’s stock worth $73,858,000 after purchasing an additional 963,788 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Associated Banc by 38.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,841,931 shares of the bank’s stock worth $73,208,000 after purchasing an additional 790,793 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

About Associated Banc

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Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.