Associated Banc (NYSE:ASB) Rating Increased 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 note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada lifted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday. UBS Group reaffirmed a “buy” rating and set a $28.00 price target on shares of Associated Banc in a report on Tuesday, December 2nd. Barclays cut their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Truist Financial increased their target price on Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Finally, Piper Sandler lifted their price target on Associated Banc from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Friday. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Associated Banc currently has a consensus rating of “Hold” and an average target price of $29.10.

Associated Banc Stock Down 3.6%

ASB opened at $26.47 on Friday. The firm’s 50-day simple moving average is $26.22 and its 200-day simple moving average is $25.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90. Associated Banc has a twelve month low of $18.32 and a twelve month high of $28.02. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.73 and a beta of 0.79.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. The firm 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 10.36%. During the same period last year, the firm posted $0.72 EPS. Equities research analysts anticipate that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.96 annualized dividend and a yield of 3.6%. This is an increase from Associated Banc’s previous quarterly dividend of $0.23. Associated Banc’s dividend payout ratio (DPR) is presently 34.66%.

Insider Transactions at Associated Banc

In related news, EVP Patrick Edward Ahern sold 30,489 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total transaction of $783,567.30. Following the completion of the sale, the executive vice president directly owned 24,055 shares of the company’s stock, valued at $618,213.50. The trade was a 55.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John A. Utz sold 2,135 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total transaction of $56,385.35. Following the completion of the transaction, the executive vice president owned 109,842 shares in the company, valued at $2,900,927.22. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 35,951 shares of company stock worth $925,756. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Several institutional investors and hedge funds have recently made changes to their positions in ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after purchasing an additional 5,531 shares during the last quarter. Millennium Management LLC lifted its stake in Associated Banc by 90.4% in the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after buying an additional 136,648 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after buying an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after buying an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in shares of Associated Banc during the 2nd quarter worth about $328,000. Institutional investors own 82.98% of the company’s stock.

Key Stories Impacting Associated Banc

Here are the key news stories impacting Associated Banc this week:

• Positive Sentiment: Q4 results: ASB posted GAAP EPS of $0.80 and revenue roughly $393–389M (beats consensus), with improving credit metrics and lower provisions — a clear earnings beat. Zacks: ASB Q4 Earnings Beat
• Positive Sentiment: Record annual results: Associated Banc reported record 2025 net income available to common equity of $463M ($2.77/share), signaling stronger full‑year profitability. PR Newswire: Record 2025 Net Income
• Positive Sentiment: Analysts lifted price targets to $30 from $27–29 (RBC, Piper Sandler, Keefe/Bruyette & Woods), implying ~13% upside; the raises provide support for the stock. The Fly: RBC PT Raise The Fly: Piper PT Raise Benzinga: KBW/Other Coverage
• Neutral Sentiment: Detailed coverage and transcripts available: investors can review the earnings call transcript and Q4 snapshots to check guidance, expense outlook and credit commentary. Yahoo: Earnings Call Transcript SeattlePI: Q4 Snapshot
• Negative Sentiment: Analysts retained neutral/sector‑perform/market‑perform ratings despite higher targets, which may limit buying momentum and help explain the stock’s decline today. The Fly: Analyst Ratings

About Associated Banc

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.