Inside the research
Associated Banc-Corp
ASB Research profile · latest available data
Price overview
$29.37
▲ +0.30 (+1.0%)
| 52w hi | $32.08 |
|---|---|
| 52w lo | $23.28 |
| Vol | 2.17M |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.11
| Short | +0.03 |
|---|---|
| Medium | +0.12 |
| Long | +0.25 |
computed 2026-09-27
Key fundamentals
Associated Banc-Corp
Financial Services · Banks - Regional
| Market cap | $5.55B |
|---|---|
| Enterprise value | $9.56B |
| Trailing P/E | 10.27x |
| Forward P/E | 8.81x |
| P / S (ttm) | 3.56x |
| Profit margin | 32.5% |
| Return on equity | 9.7% |
| Revenue growth | +23.5% |
| Earnings growth | -3.1% |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.31 | |
| Sector | +0.02 | |
| Technical | +0.02 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products and services to individuals and businesses in Wisconsin, Illinois, Missouri, Texas, and Minnesota. It offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset-based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit. The company also provides deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; specialized financial services comprising interest rate risk management and foreign exchange solutions; fiduciary services consisting of administration of pension, profit-sharing and other employee benefit plans, fiduciary and corporate agency services, and institutional asset management services; and investable funds solutions, including savings, money market deposit accounts, IRA accounts, CDs, fixed and variable annuities, full-service, discount, and online investment brokerage; investment advisory services; and trust and investment management accounts. In addition, it offers deposit and transactional solutions, including checking, credit and debit cards, online banking and bill pay, and money transfer services. The company operates loan production offices in Indiana, Kansas, Michigan, New York, Ohio, and Texas. Associated Banc-Corp was founded in 1861 and is headquartered in Green Bay, Wisconsin.
Risk Metrics
| Beta vs SPX | 1.14 |
|---|---|
| Corr SPX | 0.59 |
| Annual vol | 30.9% |
| Annual ret | +19.9% |
| Sharpe | 0.64 |
| Max DD | -32.8% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $30.90 |
|---|---|
| High / Low | $34.00 / $27.00 |
| Median | $31.00 |
| Analysts | 10 |
| Strong Buy | 2 | |
|---|---|---|
| Buy | 2 | |
| Hold | 6 | |
| Sell | 0 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-04-27 | Truist Securities | → Hold |
| 2026-04-24 | Piper Sandler | → Neutral |
| 2026-04-24 | Keefe, Bruyette & Woods | → Market Perform |
| 2026-04-24 | Baird | → Neutral |
| 2026-04-07 | Barclays | → Overweight |
| 2026-03-30 | Wells Fargo | → Overweight |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-23 | Earnings Release, Exhibits | read |
| 2026-05-05 | Reg FD Disclosure, Exhibits | read |
| 2026-04-28 | Shareholder Vote, Other Material Event… | read |
| 2026-04-23 | Exhibits | read |
| 2026-04-01 | Securities Issuance, Officer / Director Change… | read |
| 2026-03-12 | Reg FD Disclosure, Exhibits | read |
| 2026-02-09 | Reg FD Disclosure, Exhibits | read |
| 2026-01-22 | Earnings Release, Exhibits | read |
| 2025-12-05 | Reg FD Disclosure, Exhibits | read |
| 2025-12-04 | Material Agreement, Securities Issuance… | read |
| 2025-12-01 | Reg FD Disclosure, Exhibits | read |
| 2025-10-23 | Earnings Release, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-08-12 | Warsek Gregory | EVP | Sell | 3.28K | $105.02K |
| 2026-08-12 | Warsek Gregory | EVP | Option exercise | 13.02K | $338.47K |
| 2026-08-12 | Warsek Gregory | EVP | Sell | 13.02K | $416.71K |
| 2026-08-12 | Warsek Gregory | EVP | I | 14.93K | — |
| 2026-08-12 | Erickson Randall J. | Executive Vice President | Option exercise | 43.56K | $885.16K |
| 2026-08-12 | Erickson Randall J. | Executive Vice President | Sell | 43.56K | $1.40M |
| 2026-08-04 | Utz John A. | Executive Vice President | Option exercise | 24.46K | $616.52K |
| 2026-08-04 | Utz John A. | Executive Vice President | Sell | 44.47K | $1.41M |
| 2026-07-30 | Erickson Randall J. | Executive Vice President | Sell | 90.57K | $2.79M |
| 2026-07-30 | Erickson Randall J. | Executive Vice President | Option exercise | 26.48K | $667.30K |
Flow & Concentration
| Insider 180d net | -$6.66M |
|---|---|
| Insider buys / sells | 0 / 8 |
| Insider bias | Sellers |
| 13F holders | 9 |
| Top-5 share | 94.6% |
| HHI | 3,014 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $272.28M | 8.85M |
| AQR Capital Management | $94.59M | 3.07M |
| Fidelity / FMR LLC | $88.99M | 2.89M |
| Citadel Advisors | $55.50M | 1.80M |
| Millennium Management | $19.14M | 621.95K |
| Capital Research / Capital World | $15.06M | 489.45K |
| Renaissance Technologies | $7.90M | 256.73K |
| Bridgewater Associates | $7.26M | 235.87K |
| T. Rowe Price Group | $21.07K | 684.61K |
As of 2026-06-30
Dividends
| Yield (TTM) | 1.63% |
|---|---|
| $ / share (TTM) | $0.48 |
| 5y CAGR | +5.3% |
Annual dividend per share
| 2021 | $0.76 |
|---|---|
| 2022 | $0.81 |
| 2023 | $0.85 |
| 2024 | $0.89 |
| 2025 | $0.93 |
| 2026 | $0.24 |
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $1.24B | +1.8% | |
| Net income | $123.14M | -2.1% | |
| Cash from ops | $442.74M | -0.9% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $29.22 | $29.56 | $29.18 | $29.37 | 2.17M |
| Sep 24 | $28.87 | $29.11 | $28.60 | $29.07 | 1.94M |
| Sep 23 | $28.92 | $29.10 | $28.66 | $28.68 | 1.57M |
| Sep 22 | $29.54 | $29.58 | $29.02 | $29.02 | 1.77M |
| Sep 21 | $29.86 | $29.90 | $29.36 | $29.36 | 2.49M |
Understand the score. Research layers are inputs to a model, and the available data has limits.
Read the methodology →