Associated Banc (NYSE:ASB) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Associated Banc (NYSE:ASB) released its earnings results on Thursday. The bank reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01, FiscalAI reports. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.The firm had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $384.20 million. During the same quarter in the prior year, the company earned $0.59 EPS.

Here are the key takeaways from Associated Banc’s conference call:

• Strong loan growth: Q1 total period‑end loans rose about $635M (2% q/q) led by >$500M in C&I growth, and the company now expects 2026 period‑end loan growth of 17%–19% including the American National Bank (ANB) acquisition.
• Deposit and household momentum: Core customer deposits were up roughly $1.3B year‑over‑year (4.5%) and Q1 checking household growth was annualized 2.2%; management expects period‑end deposit growth of 17%–19% (customer deposits 19%–21%) including ANB, while noting some seasonal inflows.
• ANB acquisition on track: The American National Bank deal closed April 1, integration milestones are progressing, conversion is targeted for late Q3, and management expects the acquisition to contribute roughly 8%–10% income growth in 2026 with strategic metro expansion (Omaha, Twin Cities, Dallas).
• Credit watch items: Allowance for credit losses increased $6M to $425M (1.34% of loans), non‑accruals rose to $111M, delinquencies increased (about $88M with $43M tied to two managed credits), and the bank booked a modest $11M provision and 7 bps of annualized charge‑offs in Q1.
• Profitability and capital flexibility: Q1 EPS was $0.70 with net interest income $307M (up 7% YoY), adjusted efficiency ~55.8% with controlled expenses, CET1 at 10.47% (up YoY), and management signals likely use of the $100M buyback authorization this year as earnings and capital outlook improve.

Associated Banc Stock Up 0.3%

Shares of NYSE ASB traded up $0.09 during trading hours on Thursday, hitting $27.94. The company had a trading volume of 2,208,548 shares, compared to its average volume of 2,433,338. Associated Banc has a 1-year low of $21.16 and a 1-year high of $29.51. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $26.44 and its 200-day moving average is $26.28. The stock has a market capitalization of $4.62 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, March 2nd. Associated Banc’s dividend payout ratio is presently 34.66%.

Analyst Ratings Changes

ASB has been the subject of a number of research reports. Weiss Ratings upgraded Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, February 17th. Keefe, Bruyette & Woods boosted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 23rd. Barclays raised Associated Banc from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $33.00 in a research report on Tuesday, April 7th. Royal Bank Of Canada lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, January 23rd. Finally, Piper Sandler boosted their price objective on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.60.

Insider Buying and Selling

In other Associated Banc news, EVP Patrick Edward Ahern sold 14,731 shares of the company’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Williams sold 2,325 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total transaction of $65,216.25. Following the completion of the sale, the director owned 70,959 shares of the company’s stock, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,656 shares of company stock worth $677,789. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently bought and sold shares of ASB. Mercer Global Advisors Inc. ADV raised its stake in Associated Banc by 29.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,501 shares of the bank’s stock valued at $399,000 after buying an additional 3,560 shares during the period. XTX Topco Ltd acquired a new stake in shares of Associated Banc in the fourth quarter valued at approximately $1,717,000. Voloridge Investment Management LLC boosted its stake in shares of Associated Banc by 327.4% during the 4th quarter. Voloridge Investment Management LLC now owns 807,808 shares of the bank’s stock worth $20,809,000 after acquiring an additional 618,789 shares during the period. SummitTX Capital L.P. acquired a new position in shares of Associated Banc during the 4th quarter worth approximately $387,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Associated Banc during the 4th quarter worth approximately $2,705,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.