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
Vol2.17M
As of25 Sep 2026

The Verdict

Hold

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/E10.27x
Forward P/E8.81x
P / S (ttm)3.56x
Profit margin32.5%
Return on equity9.7%
Revenue growth+23.5%
Earnings growth-3.1%

Layer Breakdown

LayerRawContribution
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.

United States · www.associatedbank.com

Risk Metrics

Beta vs SPX1.14
Corr SPX0.59
Annual vol30.9%
Annual ret+19.9%
Sharpe0.64
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
Analysts10
Strong Buy2
Buy2
Hold6
Sell0
Strong Sell0

Recent rating actions

2026-04-27Truist Securities→ Hold
2026-04-24Piper Sandler→ Neutral
2026-04-24Keefe, Bruyette & Woods→ Market Perform
2026-04-24Baird→ Neutral
2026-04-07Barclays→ Overweight
2026-03-30Wells Fargo→ Overweight

Material Events

DateEvent8-K
2026-07-23Earnings Release, Exhibitsread
2026-05-05Reg FD Disclosure, Exhibitsread
2026-04-28Shareholder Vote, Other Material Event…read
2026-04-23Exhibitsread
2026-04-01Securities Issuance, Officer / Director Change…read
2026-03-12Reg FD Disclosure, Exhibitsread
2026-02-09Reg FD Disclosure, Exhibitsread
2026-01-22Earnings Release, Exhibitsread
2025-12-05Reg FD Disclosure, Exhibitsread
2025-12-04Material Agreement, Securities Issuance…read
2025-12-01Reg FD Disclosure, Exhibitsread
2025-10-23Earnings Release, Exhibitsread

Insider Trades

DateInsiderRoleActionSharesValue
2026-08-12Warsek GregoryEVPSell3.28K$105.02K
2026-08-12Warsek GregoryEVPOption exercise13.02K$338.47K
2026-08-12Warsek GregoryEVPSell13.02K$416.71K
2026-08-12Warsek GregoryEVPI14.93K—
2026-08-12Erickson Randall J.Executive Vice PresidentOption exercise43.56K$885.16K
2026-08-12Erickson Randall J.Executive Vice PresidentSell43.56K$1.40M
2026-08-04Utz John A.Executive Vice PresidentOption exercise24.46K$616.52K
2026-08-04Utz John A.Executive Vice PresidentSell44.47K$1.41M
2026-07-30Erickson Randall J.Executive Vice PresidentSell90.57K$2.79M
2026-07-30Erickson Randall J.Executive Vice PresidentOption exercise26.48K$667.30K

Flow & Concentration

Insider 180d net-$6.66M
Insider buys / sells0 / 8
Insider biasSellers
13F holders9
Top-5 share94.6%
HHI3,014 (concentrated)

Top Holders

HolderValueShares
State Street Corp$272.28M8.85M
AQR Capital Management$94.59M3.07M
Fidelity / FMR LLC$88.99M2.89M
Citadel Advisors$55.50M1.80M
Millennium Management$19.14M621.95K
Capital Research / Capital World$15.06M489.45K
Renaissance Technologies$7.90M256.73K
Bridgewater Associates$7.26M235.87K
T. Rowe Price Group$21.07K684.61K

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

DateFormDoc
2026-08-134view
2026-08-134view
2026-08-054view
2026-08-0410-Qview
2026-08-034view
2026-07-3113F-HRview
2026-07-304view
2026-07-294view
2026-07-238-Kview
2026-07-224view
2026-07-164view
2026-07-164view
2026-07-164view
2026-07-164view
2026-07-164view

The Long Run

FY 2010–2025 · 16 years

LineLatestCAGRTrend
Revenue$1.24B+1.8%
Net income$123.14M-2.1%
Cash from ops$442.74M-0.9%

Indices

S&P MidCap 400

Recent Sessions

DateOpenHighLowCloseVol
Sep 25$29.22$29.56$29.18$29.372.17M
Sep 24$28.87$29.11$28.60$29.071.94M
Sep 23$28.92$29.10$28.66$28.681.57M
Sep 22$29.54$29.58$29.02$29.021.77M
Sep 21$29.86$29.90$29.36$29.362.49M

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