Associated Banc (NYSE:ASB) Releases Earnings Results, Beats Estimates By $0.05 EPS

Associated Banc (NYSE:ASB) released its quarterly earnings results on Thursday. The bank reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05, FiscalAI reports. Associated Banc had a return on equity of 10.90% and a net margin of 19.87%. The firm had revenue of $468.51 million for the quarter, compared to the consensus estimate of $463.69 million. During the same period last year, the business posted $0.73 EPS.

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

• Net interest income rose 2% sequentially to $377 million, while net interest margin expanded three basis points to 3.20%, supported by stronger core deposits and balance-sheet remixing.
• Core customer deposits increased nearly $700 million, or 2%, helping reduce wholesale funding; management maintained its 2026 guidance for 17%-19% total deposit growth and 19%-21% core customer deposit growth.
• Management reiterated its 2026 loan-growth outlook of 18%-20% for the combined company and cited commercial pipelines up roughly 36%-40% year over year, despite elevated third-quarter payoffs.
• The company repurchased $100 million of shares in the quarter and expects to complete the remaining authorization in the fourth quarter, while maintaining a CET1 target range of 10%-10.75%.
• Credit metrics remained generally stable, with net charge-offs declining to 19 basis points and criticized loans falling 7%, although non-accrual balances rose by $33 million and third-quarter expenses included $13 million of acquisition-related costs.

Associated Banc Stock Performance

Shares of NYSE:ASB traded up $0.43 during midday trading on Friday, hitting $30.24. The company had a trading volume of 2,994,502 shares, compared to its average volume of 2,061,181. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.02 and a beta of 0.80. Associated Banc has a 12-month low of $23.87 and a 12-month high of $32.46. The company has a fifty day moving average of $29.79 and a two-hundred day moving average of $29.44.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 1st. Associated Banc’s dividend payout ratio is 33.22%.

Insider Buying and Selling

In related news, EVP Nicole Kitowski sold 7,663 shares of Associated Banc stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.91, for a total transaction of $236,863.33. Following the transaction, the executive vice president directly owned 45,327 shares in the company, valued at approximately $1,401,057.57. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Randall Erickson sold 43,561 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $32.04, for a total value of $1,395,694.44. Following the sale, the executive vice president directly owned 56,091 shares of the company’s stock, valued at $1,797,155.64. This represents a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 78,833 shares of company stock worth $2,502,103 in the last quarter. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler increased their target price on Associated Banc from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company dropped their target price on Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Monday, September 21st. Barclays upped their price target on shares of Associated Banc from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 5th. Finally, Royal Bank Of Canada increased their price objective on shares of Associated Banc from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.50.

More Associated Banc News

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

• Positive Sentiment: Strong Q3 operating results: Associated Banc reported third-quarter net income of $146.6 million, an 18% year-over-year increase. GAAP EPS was $0.76, while EPS excluding nonrecurring items was $0.81, exceeding the $0.76 analyst consensus cited by the company. Revenue of approximately $464 million also topped expectations. Associated Banc Q3 earnings release
• Positive Sentiment: Growth in deposits, loans and net interest income: Total deposits rose 16% year over year to $40.4 billion, while period-end loans increased 18% to $36.5 billion. Net interest income climbed 24% to $377.3 million, and the net interest margin expanded 16 basis points to 3.20%, supporting profitability. Associated Banc Q3 financial results
• Positive Sentiment: Capital return and core customer momentum: The bank repurchased $100 million of common stock during the quarter, while core customer deposits increased by $700 million. Buybacks can support EPS and signal management confidence in the company’s valuation. Associated Banc long-term investor takeaways
• Positive Sentiment: Higher RBC price target: Royal Bank of Canada raised its target for ASB from $33 to $34 while maintaining a “sector perform” rating. The increase suggests improved valuation support, although the unchanged rating indicates limited expectations for outperformance relative to peers.
• Neutral Sentiment: Credit quality and expenses remain important watch items: Associated Banc separately disclosed third-quarter net charge-offs, while noninterest expense included $13 million of acquisition-related nonrecurring costs. Investors will assess whether credit costs and integration expenses remain controlled in coming quarters. Associated Banc net charge-offs announcement

About Associated Banc

Associated Banc-Corp is a regional bank holding company headquartered in Green Bay, Wisconsin. Through its principal subsidiary, Associated Bank, it provides banking and financial services to individuals, families, businesses and institutions.

Associated Bank offers commercial and corporate banking, retail banking, mortgage lending, consumer lending, treasury management, investment and wealth management, and institutional services. Its business banking activities include lending, deposit accounts, cash-management solutions and other services designed for small and middle-market companies.

The company primarily serves customers across Wisconsin, Illinois and Minnesota through its branch network and digital banking channels.