Zacks Research Upgrades Associated Banc (NYSE:ASB) to Strong-Buy

Associated Banc (NYSE:ASB) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports. Zacks Research also issued estimates for Associated Banc’s Q1 2026 earnings at $0.68 EPS, Q2 2026 earnings at $0.70 EPS, Q3 2026 earnings at $0.72 EPS, FY2026 earnings at $2.83 EPS, Q3 2027 earnings at $0.79 EPS and FY2027 earnings at $3.00 EPS.

A number of other equities research analysts also recently commented on the stock. Truist Financial raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Barclays decreased their price target 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. Royal Bank Of Canada upped their price objective on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. Finally, Piper Sandler upped their price target on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.20.

Associated Banc Trading Up 1.7%

NYSE:ASB opened at $28.09 on Wednesday. The stock’s 50 day simple moving average is $27.16 and its 200-day simple moving average is $26.26. Associated Banc has a 12-month low of $18.32 and a 12-month high of $29.51. 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 firm has a market cap of $4.66 billion, a P/E ratio of 10.14, a PEG ratio of 1.26 and a beta of 0.81.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The company 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 10.25%. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities analysts anticipate that Associated Banc will post 2.43 EPS for the current year.

Associated Banc announced that its board has initiated a stock repurchase program on Tuesday, January 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director John B. Williams sold 2,325 shares of Associated Banc stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $28.05, for a total value of $65,216.25. Following the transaction, the director owned 70,959 shares in the company, valued at approximately $1,990,399.95. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total value of $56,385.35. Following the completion of the transaction, the executive vice president owned 109,842 shares in the company, valued at approximately $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,607 shares of company stock valued at $1,603,545 in the last quarter. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in shares of Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after acquiring an additional 394 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after purchasing an additional 408 shares during the period. US Bancorp DE increased its holdings in Associated Banc by 0.5% during the 3rd quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock worth $2,074,000 after purchasing an additional 415 shares during the last quarter. LPL Financial LLC raised its holdings in Associated Banc by 2.3% in the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after acquiring an additional 426 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock worth $667,000 after purchasing an additional 549 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

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.