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ASBAssociated Banc-Corp
$30.36$5.7B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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ASB logo

Associated Banc-Corp

ASB
NYSE · Regional Banks
$30.36
At close - Nov 6, 4:00 PM EST - USD
Market Cap$5.73B
P/E10.9x
52W High$32.46
Volume1.66M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Acquisition-Led Growth Masks Flat Margins, CRE Credit Risk

Associated Banc-Corp's 23.6% year-over-year net interest income growth to $377.3 million in 2026Q3 and efficiency ratio improvement to 56.1% from 60.8% in 2025Q1 suggest the American National partnership is delivering meaningful scale and cost leverage, with operating income rising to $190.0 million.

GrowthAccelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsStrong
Explore valuation models
MARKET ACTION

ASB price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

10/12 Beats

EPS beat 10 of last 12 quarters

02

Valuation risk

-7% Peers

P/E is 7% below peer median

03

Market leadership

RS 71 · Avg

Average momentum (RS Rating: 71)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Jan 22

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ASB+20.65%
S&P 500 (^GSPC)+7.63%
1-Year Return
ASB+24.04%
S&P 500 (^GSPC)+9.69%
3-Year Return
ASB+89.91%
S&P 500 (^GSPC)+67.81%
5-Year Return
ASB+52.06%
S&P 500 (^GSPC)+56.00%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
10.9x
Forward P/EExpansion
9.9x
EV/EBITDA20th %ile
9.3x
FCF YieldCash Flow
14.9%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
10.9x
10.4x
60th· Fair
EV/EBITDA
9.3x
15.2x
20th· Low
Price/FCF
6.7x
7.2x
20th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$15.20-49.9%
Base (Fair)$29.02-4.4%
Bull$46.50+53.2%
$15.20 Bear$29.02 Base$46.50 Bull
Current Market Price: $30.36
Trades at a 4.6% premium to Base DCF ($29.02)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$1.49B+44.5% YoY
Net income FY25
$475M+285.5% YoY
Free cash flow FY25
$579M+8.2% YoY
Operating margin FY25
38.8%+25.8 pts YoY
ROIC (FY25)5.1%
Avg ROIC 5Y3.6%
ROE (TTM)10%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate10/12 (83%)
Revenue Beat Rate6/12 (50%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 22, 2026
$0.81+4.7%
vs $0.77
$469M+1.0%
vs $464M
Q3 2026
Jul 23, 2026
$0.66-8.6%
vs $0.72
$450M+2.8%
vs $438M
Q2 2026
Apr 23, 2026
$0.70+1.4%
vs $0.69
$383M-0.4%
vs $384M
Q1 2026
Jan 22, 2026
$0.80+15.9%
vs $0.69
$389M+1.8%
vs $382M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Zacks Investment Research·1d ago
Here's Why Associated Banc-Corp (ASB) is a Strong Value Stock

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

PRNewsWire·1d ago
Associated Bank and Associated Bank Foundation commit $2.1 million across Nebraska and Council Bluffs, Iowa, carrying American National Bank's legacy forward

$100,000 donation to The Salvation Army Western Division will support youth programs at the North Corps Community Center in North Omaha OMAHA, Neb., Nov. 6, 2026 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated" or "Company") and the Associated Bank Foundation are committing $2.1 million in Nebraska and Council Bluffs, Iowa, including a $100,000 donation from Associated Bank to The Salvation Army Western Division to support youth programming at its North Corps Community Center and $2 million in community investments through the Associated Bank Foundation.

Defense World·3d ago
2,362,065 Shares in Associated Banc-Corp $ASB Bought by Associated Banc Corp

Associated Banc Corp bought a new position in shares of Associated Banc-Corp (NYSE: ASB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,362,065 shares of the bank's stock, valued at approximately $67,673,000. Associated Banc comprises about 1.6% of Associated

Seeking Alpha·4d ago
Dividend Announcements: October 24-30, 2026 (Part 1 Of 2)

I monitor dividend increases and cuts across 1,200+ stocks, focusing on dividend growth streaks, safety, and valuation to identify conviction opportunities. V, APH, and HIG stand out for robust dividend hikes, high-quality scores, and strong safety metrics. Energy names XOM and MPLX offer high yields and long growth streaks, but MPLX and SCL raise coverage and safety concerns because of their high payout ratios.

Filtered for Associated Banc-CorpMore Headlines
04

Compare before deciding

Benchmark ASB against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Associated Banc-Corp (ASB)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ASB logoASBAssociated Banc-CorpCurrent
$30.36$5.73B10.8644.51%31.23%10%3.08%
WTFC logoWTFCWintrust Financial Corporation
$151.27$10.2B11.2011.23%31.57%12.54%1.66%
FHN logoFHNFirst Horizon Corporation
$23.04$10.94B15.3410.5%23.4%7.66%2.75%
BOKF logoBOKFBOK Financial Corporation
$129.48$7.87B11.629.59%29.56%11.21%1.87%
UMBF logoUMBFUMB Financial Corporation
$133.77$10.16B9.91101.23%36.8%13.15%1.33%
IBCP logoIBCPIndependent Bank Corporation
$36.31$748.21M11.254.57%29.92%13.61%2.85%

Compare ASB vs Peers

Associated Banc-Corp (ASB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WTFC

Most directly comparable listed peer for ASB.

Scale Benchmark

vs V

Larger-name benchmark to compare ASB against a more recognizable public peer.

Peer Set

Compare Top 5

vs WTFC, FHN, BOKF, UMBF

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ASB SEC Filings & Documents

Associated Banc-Corp (ASB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 22, 2026·SEC

Material company update

Jul 23, 2026·SEC

Material company update

May 5, 2026·SEC

10-K Annual Reports

1
FY 2026

Feb 12, 2026·SEC

10-Q Quarterly Reports

5
FY 2026

Oct 27, 2026·SEC

FY 2026

Aug 4, 2026·SEC

FY 2026

Apr 28, 2026·SEC

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ASB Frequently Asked Questions

Associated Banc-Corp (ASB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Associated Banc-Corp growing?

Associated Banc-Corp (ASB) grew revenue by 46.4% over the trailing twelve months, compared with the twelve months before.

Is ASB profitable?

Yes. Associated Banc-Corp (ASB) earned $526.9M in net income over the trailing twelve months (a 31.2% net margin).

Dividend & Returns
Does ASB pay dividends?

Yes. Associated Banc-Corp (ASB) pays a dividend that yields 3.08% at the current price, a moderate yield.

What is ASB's return on equity?

Associated Banc-Corp (ASB) had a return on equity (ROE) of 10.0% over the trailing twelve months. That is below the market's typical 10-15%.

Industry Metrics
What is Associated Banc-Corp's net interest margin?

Associated Banc-Corp (ASB) has a net interest margin (NIM) of 2.7%. NIM has been under pressure due to interest rate environment.

What is Associated Banc-Corp's efficiency ratio?

Associated Banc-Corp (ASB) has an efficiency ratio of 57.5%. This is reasonable for a bank.

What if you invested $1,000 in ASB back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →