Associated Banc (NYSE:ASB) Issues Quarterly Earnings Results

Associated Banc (NYSE:ASB) posted its quarterly earnings data on Thursday. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01, FiscalAI reports. Associated Banc had a return on equity of 11.03% and a net margin of 19.66%.The company had revenue of $450.44 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same period last year, the firm earned $0.65 EPS.

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

• Associated said it already hit its full-year target of 9%-10% organic C&I loan growth by June 30, driven by $644 million of organic C&I growth in Q2 and nearly $1.2 billion in first-half growth.
• Management highlighted strong organic deposit momentum, with 6% year-over-year organic core customer deposit growth and primary checking households up on an annualized basis, which they said reflects improving customer acquisition and retention.
• The American National acquisition is tracking largely to plan, with expected cost saves now rising to about 30% of the acquired expense base and the earn-back still holding at 2.25 years.
• Q2 results included a higher net interest margin of 3.17% and management expects further margin expansion in the second half of 2026 as purchase accounting benefits burn off and the balance sheet remix continues.
• Credit metrics remained solid overall, though non-accruals and criticized loans increased modestly; management said the American National portfolio is performing in line with due diligence and that they are not seeing unexpected issues.

Associated Banc Stock Up 1.7%

ASB opened at $30.78 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.12 and a beta of 0.76. Associated Banc has a one year low of $23.63 and a one year high of $31.83. The business’s fifty day moving average is $29.45 and its two-hundred day moving average is $27.82.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s payout ratio is currently 33.33%.

Key Stories Impacting Associated Banc

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

• Positive Sentiment: ASB reported adjusted Q2 EPS of $0.73, slightly ahead of the $0.72 consensus, while revenue of $450.4 million also beat estimates. The beat suggests the bank is executing well operationally. Associated Banc-Corp (ASB) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Net interest income, fee income, loans, and deposits all improved year over year, signaling healthier underlying business momentum and better revenue generation. Associated Banc-Corp Q2 Earnings Beat as NII, Fee Income Improve Y/Y
• Positive Sentiment: Management said it targets 18%–20% loan growth in 2026 and plans to resume share repurchases in the second half, both of which are supportive of future earnings per share and shareholder returns.
• Neutral Sentiment: Several follow-up articles and the earnings call transcript highlighted strong loan growth and strategic initiatives, but these were largely reiterations of the earnings release rather than new market-moving developments.
• Neutral Sentiment: The stock had already moved higher into the earnings release and is now trading near its 52-week high, which may limit upside if investors begin to focus on execution versus valuation.

Analyst Ratings Changes

A number of research firms recently weighed in on ASB. Robert W. Baird lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $30.00 to $29.00 in a report on Friday, March 27th. Raymond James Financial raised their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler boosted their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 5,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the sale, the executive vice president directly owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This represents a 4.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Williams sold 4,000 shares of Associated Banc stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total value of $112,720.00. Following the transaction, the director owned 67,420 shares of the company’s stock, valued at $1,899,895.60. This represents a 5.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 28,299 shares of company stock worth $801,760. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

A number of large investors have recently bought and sold shares of ASB. State Street Corp boosted its holdings in shares of Associated Banc by 1.7% in the 4th quarter. State Street Corp now owns 8,711,346 shares of the bank’s stock valued at $224,404,000 after purchasing an additional 147,372 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Associated Banc by 38.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,841,931 shares of the bank’s stock worth $73,208,000 after buying an additional 790,793 shares during the last quarter. First Trust Advisors LP raised its position in shares of Associated Banc by 18.0% in the 4th quarter. First Trust Advisors LP now owns 2,623,528 shares of the bank’s stock worth $67,582,000 after buying an additional 399,834 shares during the period. Verition Fund Management LLC raised its position in shares of Associated Banc by 5.8% in the 3rd quarter. Verition Fund Management LLC now owns 1,903,384 shares of the bank’s stock worth $48,936,000 after buying an additional 105,186 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Associated Banc by 4,883.7% in the third quarter. Balyasny Asset Management L.P. now owns 1,385,666 shares of the bank’s stock valued at $35,625,000 after acquiring an additional 1,357,862 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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.