ASB

Associated Banc-Corp

Fundamental data last updated:June 3, 2026

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company profile

SECTOR

Financial Services

industry

Banks - Regional

Exchange

NYSE

County of HQ

US

Next Earnings Date

07/23/2026

Business Summary

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. Its Corporate and Commercial Specialty segment offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications; deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; specialized financial services such as interest rate risk management, foreign exchange solutions, and commodity hedging; fiduciary services such as administration of pension, profit-sharing and other employee benefit plans, fiduciary and corporate agency services, and institutional asset management; and investable funds solutions such as savings, money market deposit accounts, IRA accounts, CDs, fixed and variable annuities, full-service, discount and online investment brokerage; investment advisory services; and trust and investment management accounts. The company's Community, Consumer, and Business segment offers lending solutions, such as residential mortgages, home equity loans and lines of credit, personal and installment loans, auto loans, business loans, and business lines of credit; and deposit and transactional solutions such as checking, credit, debit and pre-paid cards, online banking and bill pay; and money transfer services. As of December 31, 2021, the company operated 215 banking branches. Associated Banc-Corp was founded in 1861 and is headquartered in Green Bay, Wisconsin.

 


VALUATION

P/E

9.32

Market Cap ($M USD)

$4.62B

Forward P/E

7.67

PEG

0.35

PRICE TO SALES

1.87

PRICE TO BOOK

0.92

EV / EBITDA

12.93

5-Year Average P/E

Free Cash Flow Yield

13.33%

DCF Value

$9.18

Graham Number

$45.09

Price to FCF

7.50

EV to FCF

13.91

Earnings Yield

10.72%

FCF Yield

13.33%

DIVIDEND

Yield

3.38%

Annual Payout

$0.94

Payout Ratio

34.26%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$2.98

Next Year EPS Growth Estimate

$3.63

Next Year Revenue Growth Estimate

$201.78B

Return on Equity (ROE)

10.04%

FREE CASH FLOW

Operating Margin

24.65%

Debt-to-Equity

0.84

Piotroski F-Score

8

Altman Z-Score

0.42

Return on Invested Capital (ROIC)

1.35%

Current Ratio

15.52

Quick Ratio

15.52

Net Debt to EBITDA

5.96

Interest Coverage

0.64

Gross Profit margin

59.41%

FCF PER SHARE

$3.73

REVENUE PER SHARE

$14.98

Gainseekers Quantitative Analysis

Summary

The market seems to be mispricing ASB Associated Banc-Corp, trading significantly above its DCF value, suggesting potential overvaluation. Despite a low Forward P/E of 7.87 and a strong Earnings Yield of 10.45%, the Altman Z-score of 0.42 raises red flags about financial distress. The Price/Book ratio below 1.0 indicates undervaluation, yet the high EV to EBITDA suggests the market expects robust future earnings. Overall, the financial health appears mixed, with some metrics pointing to value and others to caution.

AI Exposure / Tech Reliance

In the rapidly evolving financial services sector, ASB's position as a regional bank may limit its direct exposure to AI-driven disruptions. However, its adaptability to tech shifts will depend on its ability to integrate digital banking solutions. The industry’s resilience will hinge on leveraging technology to enhance customer experience and operational efficiency.

The Bull Case

For the value or GARP investor, ASB offers compelling reasons to buy. The Piotroski F-Score of 8 signals strong financial health, while a solid ROIC of 1.35% and a healthy FCF Yield suggest efficient capital allocation. With an operating margin of 24.65%, the company demonstrates pricing power, and its robust cash flow generation indicates potential for sustainable growth and shareholder returns.

The Bear Case

Despite some strengths, ASB faces structural risks. The Altman Z-score indicates potential financial distress, and the stock's proximity to its 52-week high suggests technical overextension. The high EV to EBITDA ratio implies the market may be overly optimistic about future earnings. Additionally, the low Interest Coverage ratio highlights potential challenges in meeting debt obligations, raising concerns about liquidity.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$29.71

Institutional Ownership %

1-Year Beta

0.79

Insider Buying % (6 Mo)

Distance to 52-Week High

6.07%

Distance to 52-Week Low

19.22%

EARNINGS SURPRISE %

1.45%

50-DAY SMA

$27.17

200-DAY SMA

$26.43

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.