Associated Banc-Corp (NYSE:ASB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts have assigned Associated Banc a consensus rating of "Moderate Buy" from 12 firms — split evenly with six "hold" and six "buy" ratings — and an average 12‑month price target of $29.60.
• Barclays upgraded ASB to Overweight and raised its target to $33 while other brokers issued mixed revisions; the stock trades near $27.46 with a market cap of $4.54B and a P/E of about 9.9.
• Associated Banc beat quarterly EPS estimates ($0.80 vs. $0.69), authorized a $100M buyback (~2.2% of shares) and pays a ~3.5% dividend yield, though insiders have sold roughly 23,656 shares in the past 90 days.

Associated Banc-Corp (NYSE:ASB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.60.

Several equities analysts have recently weighed in on ASB shares. Truist Financial reduced their price target on Associated Banc from $30.00 to $27.00 and set a "hold" rating for the company in a report on Monday, March 23rd. Keefe, Bruyette & Woods raised their price target on Associated Banc from $29.00 to $30.00 and gave the company a "market perform" rating in a report on Friday, January 23rd. Zacks Research downgraded Associated Banc from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Piper Sandler raised their price target on Associated Banc from $27.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 23rd. Finally, Barclays upgraded Associated Banc from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $30.00 to $33.00 in a report on Tuesday.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $27.46 on Friday. Associated Banc has a 1-year low of $18.78 and a 1-year high of $29.51. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $26.58 and a 200-day moving average price of $26.17. The company has a market capitalization of $4.54 billion, a PE ratio of 9.91, a PEG ratio of 1.44 and a beta of 0.77.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. During the same period last year, the company earned $0.72 earnings per share. As a group, equities analysts expect that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc announced that its board has approved a stock repurchase plan on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.5%. Associated Banc's dividend payout ratio (DPR) is 34.66%.

Key Headlines Impacting Associated Banc

Here are the key news stories impacting Associated Banc this week:

• Positive Sentiment: Barclays upgraded ASB to Overweight, signaling that the bank’s shares may benefit from stronger capital/earnings upside than the market currently expects. This upgrade is a clear buy‑side catalyst that could support the stock if other data confirm improving fundamentals. Barclays Upgrades Associated Banc
• Neutral Sentiment: Options activity shows unusual volume/implied‑volatility positioning — traders appear to be betting on a big move in ASB, which raises the chance of larger intraday swings but doesn’t indicate direction. Elevated options interest can increase short‑term price volatility and widen bid/ask spreads. Are options traders betting on a big move in Associated Banc-Corp stock?
• Neutral Sentiment: Zacks Research released a slate of quarterly and annual EPS projections and keeps a "Hold" rating on ASB. Estimates show earnings rising over 2026–2028, but the Hold rating indicates limited analyst conviction for near‑term upside — a reason some investors may stay on the sidelines until clearer upside drivers appear. Zacks Research ASB estimates
• Negative Sentiment: Technicals and trading context are constraining: recent volume is below average, the stock is off its 12‑month high, and valuation (P/E ~9.9) plus a conservative near‑term outlook may limit multiple expansion absent stronger catalysts (better earnings, margin improvement or clearer guidance). These factors help explain the muted market reaction despite the Barclays upgrade.

Insider Activity at Associated Banc

In related news, EVP Patrick Edward Ahern sold 14,731 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total transaction of $427,640.93. Following the sale, the executive vice president directly owned 39,401 shares of the company's stock, valued at $1,143,811.03. This trade represents a 27.21% decrease in their ownership of the stock. The transaction 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 stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $28.02, for a total value of $184,932.00. Following the sale, the director directly owned 49,264 shares in the company, valued at $1,380,377.28. This trade represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,656 shares of company stock valued at $677,789 over the last ninety days. Insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On Associated Banc

Several institutional investors have recently modified their holdings of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank's stock valued at $2,198,000 after buying an additional 5,531 shares during the last quarter. Millennium Management LLC boosted its position in shares of Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank's stock valued at $6,486,000 after buying an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock valued at $61,927,000 after buying an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Associated Banc by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank's stock worth $11,184,000 after purchasing an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Associated Banc in the second quarter worth about $328,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

About Associated Banc

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.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.

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