Associated Banc (NYSE:ASB) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Associated Banc (NYSE:ASB) announced its earnings results on Thursday. The bank reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01, FiscalAI reports. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The firm had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same period in the prior year, the firm earned $0.59 EPS.

Here are the key takeaways from Associated Banc’s conference call:

• Strong loan growth: Q1 total period?end loans rose about $635M (2% q/q) led by >$500M in C&I growth, and the company now expects 2026 period?end loan growth of 17%–19% including the American National Bank (ANB) acquisition.
• Deposit and household momentum: Core customer deposits were up roughly $1.3B year?over?year (4.5%) and Q1 checking household growth was annualized 2.2%; management expects period?end deposit growth of 17%–19% (customer deposits 19%–21%) including ANB, while noting some seasonal inflows.
• ANB acquisition on track: The American National Bank deal closed April 1, integration milestones are progressing, conversion is targeted for late Q3, and management expects the acquisition to contribute roughly 8%–10% income growth in 2026 with strategic metro expansion (Omaha, Twin Cities, Dallas).
• Credit watch items: Allowance for credit losses increased $6M to $425M (1.34% of loans), non?accruals rose to $111M, delinquencies increased (about $88M with $43M tied to two managed credits), and the bank booked a modest $11M provision and 7 bps of annualized charge?offs in Q1.
• Profitability and capital flexibility: Q1 EPS was $0.70 with net interest income $307M (up 7% YoY), adjusted efficiency ~55.8% with controlled expenses, CET1 at 10.47% (up YoY), and management signals likely use of the $100M buyback authorization this year as earnings and capital outlook improve.

Associated Banc Trading Up 0.3%

NYSE ASB opened at $27.94 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. Associated Banc has a 52 week low of $21.16 and a 52 week high of $29.51. The stock has a market capitalization of $4.62 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The firm has a 50 day moving average of $26.45 and a two-hundred day moving average of $26.29.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, March 2nd. Associated Banc’s payout ratio is 34.66%.

Key Headlines Impacting Associated Banc

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

• Positive Sentiment: Q1 earnings beat and official results — Associated reported net income available to common equity of $117 million, or $0.70 per share, topping the $0.69 consensus; revenue of $387.2M also beat estimates. This is the main catalyst supporting the stock’s uptick. Associated Banc-Corp Reports First Quarter 2026 Net Income…
• Positive Sentiment: Healthy profitability metrics — Reported net margin (~19.3%) and return on equity (~10.25%) indicate solid operating performance versus the prior year, supporting valuation (P/E ~10). Investors will watch whether these metrics sustain. Associated Banc Earnings — MarketBeat
• Positive Sentiment: Business development/hiring — Associated Bank added Lisa Buetow as SVP, Private Banking (major metro markets), a hire aimed at accelerating growth in key metros (Minneapolis, Chicago, Milwaukee, Madison). This is a modest positive for commercial/private banking expansion. Associated Bank hires Lisa Buetow…
• Neutral Sentiment: Acquisition context — Coverage notes Q1 results came “after the American National deal”; investors will be assessing how the transaction affects revenue growth, cost/integration and capital metrics over coming quarters. Near?term reaction is neutral until integration details show up in results. Associated Banc-Corp earnings on deck after American National deal
• Neutral Sentiment: Analyst write?ups and previews — Zacks and other outlets published previews and post?earnings analysis highlighting key metrics vs. estimates; these help investors dig into margins, credit trends and fee revenue but don’t add new company guidance. Associated Banc-Corp (ASB) Reports Q1 Earnings: What Key Metrics Have to Say
• Neutral Sentiment: Comparative coverage — A sector/peer review piece mentions ASB alongside smaller banks (FirstSun), useful for relative valuation and deposit/loan mix comparisons but not a direct catalyst. Reviewing FirstSun Capital Bancorp & Associated Banc

Analysts Set New Price Targets

Several brokerages recently weighed in on ASB. Barclays raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, April 7th. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $30.00 to $29.00 in a research note on Friday, March 27th. Royal Bank Of Canada upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Wells Fargo & Company upped their target price on shares of Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

Insiders Place Their Bets

In other Associated Banc news, EVP Patrick Edward Ahern sold 14,731 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $29.03, for a total transaction of $427,640.93. Following the completion of the transaction, the executive vice president owned 39,401 shares in the company, valued at $1,143,811.03. The trade was a 27.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $28.02, for a total transaction of $184,932.00. Following the transaction, the director owned 49,264 shares of the company’s stock, valued at $1,380,377.28. This trade represents a 11.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,656 shares of company stock worth $677,789 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Associated Banc by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock worth $3,779,000 after acquiring an additional 394 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Associated Banc by 2.3% in the 4th quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after buying an additional 426 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Associated Banc by 2.0% in the 2nd quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after buying an additional 549 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Associated Banc by 1.8% in the 4th quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after buying an additional 619 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Associated Banc by 3.7% in the 2nd quarter. Osaic Holdings Inc. now owns 22,256 shares of the bank’s stock valued at $543,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc declared that its board has approved a stock repurchase program on Tuesday, January 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.