Fifth Third Bancorp Acquires 44,075 Shares of Associated Banc-Corp $ASB

Key Points

• Fifth Third Bancorp dramatically increased its stake in Associated Banc-Corp, buying 44,075 shares in the first quarter and boosting its holdings by 3,010.6% to 45,539 shares valued at about $1.18 million.
• Associated Banc reported stronger-than-expected second-quarter results, with adjusted EPS of $0.73 and revenue of $450.4 million, both slightly ahead of Wall Street estimates. Net interest income, fee income, loans, and deposits also improved year over year.
• Management is signaling more growth ahead, targeting 18%–20% loan growth in 2026 and planning to resume share repurchases in the second half. The stock also trades near its 52-week high, which could limit near-term upside.

Fifth Third Bancorp raised its stake in Associated Banc-Corp (NYSE:ASB - Free Report) by 3,010.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,539 shares of the bank's stock after buying an additional 44,075 shares during the period. Fifth Third Bancorp's holdings in Associated Banc were worth $1,178,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ASB. IAG Wealth Partners LLC raised its position in shares of Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank's stock worth $31,000 after acquiring an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Associated Banc during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC lifted its position in shares of Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank's stock worth $33,000 after purchasing an additional 1,047 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Associated Banc in the 3rd quarter worth approximately $51,000. Finally, Hoese & Co LLP bought a new stake in shares of Associated Banc in the 4th quarter valued at $52,000. Institutional investors own 82.98% of the company's stock.

Key Stories Impacting Associated Banc

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

• Positive Sentiment: ASB reported adjusted Q2 EPS of $0.73, slightly ahead of the $0.72 consensus, while revenue of $450.4 million also beat estimates. The beat suggests the bank is executing well operationally. Associated Banc-Corp (ASB) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Net interest income, fee income, loans, and deposits all improved year over year, signaling healthier underlying business momentum and better revenue generation. Associated Banc-Corp Q2 Earnings Beat as NII, Fee Income Improve Y/Y
• Positive Sentiment: Management said it targets 18%–20% loan growth in 2026 and plans to resume share repurchases in the second half, both of which are supportive of future earnings per share and shareholder returns.
• Neutral Sentiment: Several follow-up articles and the earnings call transcript highlighted strong loan growth and strategic initiatives, but these were largely reiterations of the earnings release rather than new market-moving developments.
• Neutral Sentiment: The stock had already moved higher into the earnings release and is now trading near its 52-week high, which may limit upside if investors begin to focus on execution versus valuation.

Associated Banc Stock Performance

NYSE:ASB opened at $30.78 on Friday. Associated Banc-Corp has a 52-week low of $23.63 and a 52-week high of $31.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.12 and a beta of 0.76. The business's fifty day moving average is $29.45 and its 200 day moving average is $27.82.

Associated Banc (NYSE:ASB - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.01. The firm had revenue of $450.44 million during the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 11.03%. During the same period in the previous year, the business earned $0.65 EPS. Research analysts predict that Associated Banc-Corp will post 2.91 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc's dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ASB. Weiss Ratings reissued a "buy (b)" rating on shares of Associated Banc in a research note on Wednesday, June 24th. Robert W. Baird raised their target price on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Wall Street Zen downgraded Associated Banc from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Wells Fargo & Company boosted their price target on Associated Banc from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, March 30th. Finally, Keefe, Bruyette & Woods increased their price target on Associated Banc from $30.00 to $31.00 and gave the stock a "market perform" rating in a report on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

Insiders Place Their Bets

In related news, EVP Dennis Deloye sold 14,299 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $28.26, for a total transaction of $404,089.74. Following the completion of the transaction, the executive vice president directly owned 21,385 shares in the company, valued at $604,340.10. The trade was a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew R. Braeger sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the transaction, the executive vice president owned 11,777 shares in the company, valued at approximately $331,758.09. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,299 shares of company stock valued at $801,760 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

Associated Banc Company Profile

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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