Associated Banc (NYSE:ASB) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Associated Banc (NYSE:ASB) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other research firms also recently weighed in on ASB. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $30.00 to $29.00 in a research report on Friday, March 27th. Royal Bank Of Canada boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Wells Fargo & Company boosted their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Weiss Ratings raised shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, February 17th. Finally, Truist Financial lowered their price objective on shares of Associated Banc from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Associated Banc presently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

Associated Banc Price Performance

ASB opened at $27.46 on Friday. The company has a 50-day moving average of $26.58 and a 200-day moving average of $26.17. The company has a market capitalization of $4.54 billion, a P/E ratio of 9.91, a PEG ratio of 1.43 and a beta of 0.77. 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 quick ratio of 0.90 and a current ratio of 0.90.

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

Associated Banc announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the bank to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Associated Banc Announces Dividend

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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 2nd. Associated Banc’s dividend payout ratio is currently 34.66%.

Insider Activity at Associated Banc

In related news, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $28.02, for a total transaction of $184,932.00. Following the completion of the sale, the director owned 49,264 shares of the company’s stock, valued at $1,380,377.28. This represents a 11.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Edward Ahern sold 14,731 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were 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 approximately $1,143,811.03. This represents a 27.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,656 shares of company stock valued at $677,789 in the last quarter. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock valued at $477,543,000 after purchasing an additional 545,185 shares during the period. State Street Corp boosted its stake in Associated Banc by 1.7% during the 4th 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 period. LSV Asset Management boosted its stake in Associated Banc by 1.1% during the 4th 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 period. Verition Fund Management LLC boosted its stake in Associated Banc by 50.6% during the 4th quarter. Verition Fund Management LLC now owns 2,867,172 shares of the bank’s stock valued at $73,858,000 after purchasing an additional 963,788 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Associated Banc by 38.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,841,931 shares of the bank’s stock valued at $73,208,000 after purchasing an additional 790,793 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc News Roundup

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.

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.