Keefe, Bruyette & Woods Raises Associated Banc (NYSE:ASB) Price Target to $30.00

Associated Banc (NYSE:ASB) had its price target increased by analysts at Keefe, Bruyette & Woods from $29.00 to $30.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.32% from the company’s previous close.

A number of other research analysts have also recently commented on ASB. UBS Group reissued a “buy” rating and issued a $28.00 target price on shares of Associated Banc in a report on Tuesday, December 2nd. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Associated Banc in a research note on Monday, January 12th. Raymond James Financial restated an “outperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Associated Banc in a research report on Monday, October 27th. Finally, Truist Financial upped their price target on shares of Associated Banc from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.10.

Associated Banc Trading Down 3.6%

Shares of NYSE:ASB opened at $26.47 on Friday. Associated Banc has a 12-month low of $18.32 and a 12-month high of $28.02. The business has a 50 day moving average of $26.22 and a 200-day moving average of $25.79. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market cap of $4.39 billion, a PE ratio of 9.56, a P/E/G ratio of 0.73 and a beta of 0.79.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 22nd. The bank reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. Associated Banc had a return on equity of 10.36% and a net margin of 19.31%.The company had revenue of $393.52 million during the quarter, compared to the consensus estimate of $382.06 million. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, equities research analysts forecast that Associated Banc will post 2.43 earnings per share for the current year.

Insider Transactions at Associated Banc

In other news, EVP Patrick Edward Ahern sold 30,489 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the sale, the executive vice president directly owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This represents a 55.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John A. Utz sold 2,135 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total transaction of $56,385.35. Following the sale, the executive vice president owned 109,842 shares of the company’s stock, valued at approximately $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 35,951 shares of company stock valued at $925,756 over the last 90 days. 1.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ASB. Burney Co. raised its holdings in shares of Associated Banc by 3.9% in the 4th quarter. Burney Co. now owns 48,664 shares of the bank’s stock worth $1,254,000 after acquiring an additional 1,836 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Associated Banc by 10.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 32,092 shares of the bank’s stock worth $827,000 after purchasing an additional 3,121 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Associated Banc in the fourth quarter worth approximately $52,000. SG Americas Securities LLC purchased a new stake in shares of Associated Banc in the fourth quarter worth approximately $11,659,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Associated Banc by 6.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 60,295 shares of the bank’s stock valued at $1,620,000 after purchasing an additional 3,639 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Key Associated Banc News

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

• Positive Sentiment: Q4 results: ASB posted GAAP EPS of $0.80 and revenue roughly $393–389M (beats consensus), with improving credit metrics and lower provisions — a clear earnings beat. Zacks: ASB Q4 Earnings Beat
• Positive Sentiment: Record annual results: Associated Banc reported record 2025 net income available to common equity of $463M ($2.77/share), signaling stronger full‑year profitability. PR Newswire: Record 2025 Net Income
• Positive Sentiment: Analysts lifted price targets to $30 from $27–29 (RBC, Piper Sandler, Keefe/Bruyette & Woods), implying ~13% upside; the raises provide support for the stock. The Fly: RBC PT Raise The Fly: Piper PT Raise Benzinga: KBW/Other Coverage
• Neutral Sentiment: Detailed coverage and transcripts available: investors can review the earnings call transcript and Q4 snapshots to check guidance, expense outlook and credit commentary. Yahoo: Earnings Call Transcript SeattlePI: Q4 Snapshot
• Negative Sentiment: Analysts retained neutral/sector‑perform/market‑perform ratings despite higher targets, which may limit buying momentum and help explain the stock’s decline today. The Fly: Analyst Ratings

Associated Banc Company Profile

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.