Overview Dividends

(ASB) Associated Banc-Corp - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US0454871056

Loans, Deposits, Cash Management, Investment Services, Trust

Regional Banks
Market Cap in USD: 4,302m

IPO / Inception: 1984-09-07
Return 12m vs S&P 500: -1.73%

EPS (Earnings per Share)

EPS CAGR: 11.22%
EPS Trend: 39.1%

Last SUE: 2.96
Qual. Beats: 5

Revenue

Rev. CAGR: 24.28%
Rev. Trend: 70.4%

Last SUE: 1.14
Qual. Beats: 13

Dividends

Dividend Yield	3.46%
Yield on Cost 5y	5.90%
Yield CAGR 5y	5.18%
Payout Consistency	89.9%
Payout Ratio	36.6%

Risk via 5d forecast
Volatility	32.2%
Value at Risk 5%th	45.5%
Relative Tail Risk	-13.98%

Reward TTM
Sharpe Ratio	0.50
Alpha	-3.97
CAGR/Max DD	0.24

Character TTM
Hurst Exponent	0.450
Beta	1.156
Beta Downside	1.267

Drawdowns 3y
Max DD	39.58%
Mean DD	13.41%
Median DD	10.16%

Description: ASB Associated Banc-Corp November 07, 2025

Associated Banc-Corp (NYSE: ASB) is a regional bank holding company headquartered in Green Bay, Wisconsin, that serves individuals and businesses across Wisconsin, Illinois, Missouri and Minnesota. The firm delivers a full spectrum of banking and non-banking products-including commercial and residential loans, asset-based and equipment financing, deposit and cash-management services, fiduciary and trust administration, as well as investment and brokerage solutions-and maintains loan-production offices in Indiana, Kansas, Michigan, New York, Ohio and Texas.

As of the latest quarter (Q3 2024), ASB reported a net interest margin of roughly 3.6%, a loan portfolio that grew about 5% year-over-year to approximately $22 billion, and deposits near $30 billion, reflecting modest but steady balance-sheet expansion. The regional-bank sector remains highly sensitive to Federal Reserve policy and Midwest commercial-real-estate trends; however, ASB’s non-performing loan ratio stays under 0.5%, indicating relatively strong credit quality amid a tightening credit environment.

For a deeper quantitative breakdown of ASB’s valuation drivers, the ValueRay platform offers a granular, data-rich analysis worth exploring.

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (176.0m TTM) > 0 and > 6% of Revenue (6% = 128.9m TTM)

FCFTA 0.01 (>2.0%) and ΔFCFTA 0.37pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -1705 % (prev -1349 %; Δ -356.0pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.01 (>3.0%) and CFO 604.7m > Net Income 176.0m (YES >=105%, WARN >=100%)

Net Debt (2.92b) to EBITDA (340.8m) ratio: 8.57 <= 3.0 (WARN <= 3.5)

Current Ratio 0.04 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (166.7m) change vs 12m ago 10.04% (target <= -2.0% for YES)

Gross Margin 50.69% (prev 45.93%; Δ 4.76pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 4.96% (prev 5.16%; Δ -0.20pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.24 (EBITDA TTM 340.8m / Interest Expense TTM 995.3m) >= 6 (WARN >= 3)

Altman Z'' -5.06

(A) -0.82 = (Total Current Assets 1.46b - Total Current Liabilities 38.09b) / Total Assets 44.46b

(B) 0.07 = Retained Earnings (Balance) 3.13b / Total Assets 44.46b

(D) 0.08 = Book Value of Equity 3.12b / Total Liabilities 39.59b

Total Rating: -5.06 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 59.38

1. Piotroski 3.0pt

2. FCF Yield 7.94%

3. FCF Margin 26.69%

4. Debt/Equity 0.87

5. Debt/Ebitda 8.57

6. ROIC - WACC (= -5.16)%

7. RoE 3.72%

8. Rev. Trend 70.43%

9. EPS Trend 39.11%

What is the price of ASB shares?

As of January 07, 2026, the stock is trading at USD 26.87 with a total of 2,318,748 shares traded.
Over the past week, the price has changed by +3.63%, over one month by +2.87%, over three months by +1.95% and over the past year by +15.53%.

Is ASB a buy, sell or hold?

Associated Banc-Corp has received a consensus analysts rating of 3.30. Therefor, it is recommend to hold ASB.

Strong Buy: 1
Buy: 1
Hold: 8
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the ASB price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	29.4	9.4%
Analysts Target Price	29.4	9.4%
ValueRay Target Price	29.8	10.8%

ASB Fundamental Data Overview January 01, 2026

Market Cap USD = 4.30b (4.30b USD * 1.0 USD.USD)
P/E Trailing = 30.1512
P/E Forward = 9.1324
P/S = 3.9195
P/B = 0.9205
P/EG = 2.27
Beta = 0.812
Revenue TTM = 2.15b USD
EBIT TTM = 237.3m USD
EBITDA TTM = 340.8m USD
Long Term Debt = 1.00b USD (from longTermDebt, last quarter)
Short Term Debt = 3.21b USD (from shortTermDebt, last quarter)
Debt = 4.21b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.92b USD (from netDebt column, last quarter)
Enterprise Value = 7.22b USD (4.30b + Debt 4.21b - CCE 1.29b)
Interest Coverage Ratio = 0.24 (Ebit TTM 237.3m / Interest Expense TTM 995.3m)
FCF Yield = 7.94% (FCF TTM 573.4m / Enterprise Value 7.22b)
FCF Margin = 26.69% (FCF TTM 573.4m / Revenue TTM 2.15b)
Net Margin = 8.19% (Net Income TTM 176.0m / Revenue TTM 2.15b)
Gross Margin = 50.69% ((Revenue TTM 2.15b - Cost of Revenue TTM 1.06b) / Revenue TTM)
Gross Margin QoQ = 57.98% (prev 56.78%)
Tobins Q-Ratio = 0.16 (Enterprise Value 7.22b / Total Assets 44.46b)
Interest Expense / Debt = 5.96% (Interest Expense 251.4m / Debt 4.21b)
Taxrate = 19.16% (29.6m / 154.3m)
NOPAT = 191.8m (EBIT 237.3m * (1 - 19.16%))
Current Ratio = 0.04 (Total Current Assets 1.46b / Total Current Liabilities 38.09b)
Debt / Equity = 0.87 (Debt 4.21b / totalStockholderEquity, last quarter 4.87b)
Debt / EBITDA = 8.57 (Net Debt 2.92b / EBITDA 340.8m)
Debt / FCF = 5.10 (Net Debt 2.92b / FCF TTM 573.4m)
Total Stockholder Equity = 4.74b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.40% (Net Income 176.0m / Total Assets 44.46b)
RoE = 3.72% (Net Income TTM 176.0m / Total Stockholder Equity 4.74b)
RoCE = 4.13% (EBIT 237.3m / Capital Employed (Equity 4.74b + L.T.Debt 1.00b))
RoIC = 2.42% (NOPAT 191.8m / Invested Capital 7.94b)
WACC = 7.57% (E(4.30b)/V(8.52b) * Re(10.27%) + D(4.21b)/V(8.52b) * Rd(5.96%) * (1-Tc(0.19)))
Discount Rate = 10.27% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 5.39%
[DCF Debug] Terminal Value 70.49% ; FCFE base≈499.2m ; Y1≈497.0m ; Y5≈522.8m
Fair Price DCF = 38.84 (DCF Value 6.45b / Shares Outstanding 165.9m; 5y FCF grow -1.10% → 3.0% )
EPS Correlation: 39.11 | EPS CAGR: 11.22% | SUE: 2.96 | # QB: 5
Revenue Correlation: 70.43 | Revenue CAGR: 24.28% | SUE: 1.14 | # QB: 13
EPS next Quarter (2026-03-31): EPS=0.67 | Chg30d=+0.003 | Revisions Net=+2 | Analysts=8
EPS next Year (2026-12-31): EPS=2.83 | Chg30d=+0.029 | Revisions Net=+4 | Growth EPS=+4.8% | Growth Revenue=+10.3%

Additional Sources for ASB Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle