Associated Banc (NYSE:ASB) Posts Earnings Results, Beats Expectations By $0.05 EPS

Associated Banc (NYSE:ASB) released its earnings results on Thursday. The bank reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05, FiscalAI reports. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The business had revenue of $468.51 million during the quarter, compared to the consensus estimate of $463.69 million. During the same quarter last year, the firm earned $0.73 earnings per share.

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 Trading Up 0.9%

Shares of Associated Banc stock traded up $0.28 on Friday, hitting $30.09. The stock had a trading volume of 297,676 shares, compared to its average volume of 2,147,059. The stock has a 50 day moving average of $29.83 and a 200 day moving average of $29.44. Associated Banc has a twelve month low of $23.87 and a twelve month high of $32.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $5.68 billion, a P/E ratio of 10.55, a PEG ratio of 1.00 and a beta of 0.80.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Associated Banc’s payout ratio is currently 33.57%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ASB shares. Truist Financial increased their price target on Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Associated Banc in a report on Friday. Raymond James Financial boosted their target price on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wells Fargo & Company lowered their price target on shares of Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research report on Monday, September 21st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Associated Banc has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Key Headlines Impacting Associated Banc

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

• Positive Sentiment: Third-quarter net income rose 18% year over year to $146.6 million. GAAP diluted EPS was $0.76, while EPS excluding nonrecurring items was $0.81, exceeding the consensus estimate cited in company coverage; revenue of approximately $464 million also topped expectations. Associated Banc-Corp Third Quarter Earnings
• Positive Sentiment: Core customer deposits increased by $700 million during the quarter, while total deposits grew 16% year over year to $40.4 billion. Loans rose 18% to $36.5 billion, indicating continued balance-sheet expansion and stronger funding momentum. Associated Banc-Corp Key Takeaways
• Positive Sentiment: Net interest income climbed 24% to $377.3 million, and net interest margin expanded 16 basis points to 3.20%. The combination suggests the bank is converting loan and deposit growth into improved earnings power. Associated Banc Third-Quarter Net Income
• Positive Sentiment: Associated Banc repurchased $100 million of common stock in the third quarter, supporting per-share value and signaling management confidence in the company’s valuation and capital position. Associated Banc-Corp Key Takeaways
• Neutral Sentiment: The company separately announced third-quarter net charge-offs. Investors will assess the level and trend of credit losses for evidence that stronger growth is not being accompanied by worsening loan quality. Associated Banc-Corp Net Charge-Offs

Insider Activity at Associated Banc

In other news, EVP Patrick Ahern sold 1,309 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total transaction of $40,382.65. Following the completion of the transaction, the executive vice president directly owned 43,743 shares in the company, valued at $1,349,471.55. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derek Meyer sold 10,000 shares of Associated Banc stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $30.74, for a total transaction of $307,400.00. Following the transaction, the executive vice president directly owned 61,662 shares of the company’s stock, valued at $1,895,489.88. This represents a 13.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,833 shares of company stock valued at $2,502,103 in the last quarter. Insiders own 0.71% of the company’s stock.

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.