Associated Banc (NYSE:ASB) Raised to Buy at Wall Street Zen

Associated Banc (NYSE:ASB) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also issued reports on ASB. Raymond James Financial restated an “outperform” rating and issued a $30.00 price objective (up from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Barclays reduced their price objective on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Piper Sandler boosted their target price on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial boosted their price target on shares of Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.10.

Associated Banc Trading Down 3.6%

Shares of ASB stock opened at $26.47 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $26.22 and its 200-day moving average price is $25.79. Associated Banc has a twelve month low of $18.32 and a twelve month high of $28.02. The stock 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 posted its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The company had revenue of $393.52 million for the quarter, compared to analyst estimates of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period in the previous year, the business posted $0.72 EPS. As a group, equities analysts predict that Associated Banc will post 2.43 earnings per share for the current year.

Insider Activity at Associated Banc

In related news, EVP Patrick Edward Ahern sold 30,489 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the sale, the executive vice president owned 24,055 shares in the company, valued at $618,213.50. This trade represents a 55.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $26.41, for a total value of $56,385.35. Following the completion of the sale, the executive vice president directly owned 109,842 shares of the company’s stock, valued at $2,900,927.22. This represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,951 shares of company stock valued at $925,756 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently bought and sold shares of ASB. Meritage Portfolio Management acquired a new position in Associated Banc in the 2nd quarter valued at $469,000. Greenleaf Trust increased its stake in Associated Banc by 6.2% in the second quarter. Greenleaf Trust now owns 12,103 shares of the bank’s stock valued at $295,000 after purchasing an additional 704 shares during the last quarter. Pzena Investment Management LLC increased its stake in Associated Banc by 4.0% in the second quarter. Pzena Investment Management LLC now owns 1,859,542 shares of the bank’s stock valued at $45,354,000 after purchasing an additional 71,676 shares during the last quarter. Leeward Investments LLC MA lifted its position in Associated Banc by 39.7% during the second quarter. Leeward Investments LLC MA now owns 765,504 shares of the bank’s stock worth $18,671,000 after buying an additional 217,546 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in Associated Banc in the 2nd quarter worth about $210,000. 82.98% of the stock is owned by institutional investors and hedge funds.

More Associated Banc News

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

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.