State Commercial Banks · SIC 6022

ASSOCIATED BANC-CORP

ASBA

Watch

Latest revenue

$79.5M

as of 2026-03-31

Latest net income

$119.6M

as of 2026-03-31

Net margin

150.5%

as of 2026-03-31

6.4
of 10

ActaClear Score

Above avg
#94 of 212 in State Commercial Banks
new
Profitability·25%
5.2
Growth·15%
4.6
Value·20%
9.2
Quality·20%
8.1
Momentum·20%
4.9

Computed from 5 years of SEC fundamentals + latest market data, ranked within State Commercial Banks (212 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 6, 2026.

0.28
Price / FV

Fair value · DCF

Deeply undervalued
~252% upside at this growth
11.5% / yr
-5%30%
Terminal growthWACC 9.2% · 10y forecast
Current price
$24.48
DCF fair value
$86.20
FCF base (last FY)
$474.78M
Net debt
$19.58M

DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.

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Price · 5Y

+5.6% / yr 14.1 pts / yr vs S&P 500 19.2% total
Compare:

Live market

delayed ≤15 min
$24.48
Market cap
$4.05B
Enterprise value
$4.57B
P/E (trailing)
8.5×
Forward P/E
P/B
0.81×
Dividend yield
6.7%
52-wk high
$25.37
52-wk low
$23.53
Beta
Shares out
165.4M

5-year trend

What this company does

AI

ITEM 1.Business General Associated Banc-Corp is a bank holding company registered pursuant to the BHC Act. Our bank subsidiary, Associated Bank, traces its history back to the founding of the Bank of Neenah in 1861. We were incorporated in Wisconsin in 1964 and were inactive until 1969 when permission was received from the Federal Reserve to acquire three banks. At December 31, 2025, we owned one nationally chartered commercial bank headquartered in Green Bay, Wisconsin, which serves local communities across the upper Midwest, one nationally chartered trust company headquartered in Milwaukee, Wisconsin, and 12 limited purpose banking and nonbanking subsidiaries either located in or…

AI summary unavailable — showing raw filing excerpt

Generated from ASBA's filing dated 2026-02-12

Key risks

AI

ITEM 1A.Risk Factors An investment in our common stock is subject to risks inherent to our business. The material risks and uncertainties that management believes affect us are described below. Before making an investment decision, you should carefully consider the risks and uncertainties described below, together with all of the other information included or incorporated by reference herein. The risks and uncertainties described below are not the only ones facing us. Additional risks and uncertainties that management is not aware of or focused on or that management currently deems immaterial may impair our business operations. This report is qualified in its entirety by these risk factors.…

AI summary unavailable — showing raw filing excerpt

Generated from ASBA's filing dated 2026-02-12

Profitability

Net margin

19.3%

234.9%

Return on equity

9.5%

256.9%

Return on assets

1.1%

267.0%

Leverage

Debt / equity

8.09×

3.1%

Long-term debt / equity

0.12×

34.3%

Debt / assets

89.0%

0.3%

Earnings tracker

QuarterRevenueYoYNet incomeYoYNet margin

Q1 2026

2026-03-31

$79.5M+6.1%$119.6M+17.7%150.5%

Q4 2025

2025-12-31

$2.29B+14.9%$137.1M+184.8%6.0%

Q3 2025

2025-09-30

$55.1M-0.2%$124.7M+41.7%226.2%

Q2 2025

2025-06-30

$37.2M+1.6%$111.2M-3.8%299.0%

Q1 2025

2025-03-31

$74.9M+52.5%$101.7M+25.3%135.8%

Q4 2024

2024-12-31

$2.00B$-161.6M-8.1%

Q3 2024

2024-09-30

$55.3M+22.5%$88.0M+5.7%159.3%

Q2 2024

2024-06-30

$36.6M-0.7%$115.6M+32.6%315.8%

Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.

Industry trend

State Commercial Banks · SIC 6022

No data yet for industry average

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Insider activity

No insider transactions on file for ASBA in the last 12 months.

Source: SEC Form 4 filings. Backfill runs nightly.

Who owns ASBA

Institutional value

$73.6K

Total shares held

3.0K

Distinct holders

1

+0 vs prior

As of

2026-03-31

Prior: 2025-12-31

Filers with $100M+ AUM disclose holdings 45 days after quarter end.

Top institutional holders

#ManagerSharesValueQoQ changeAction
1THOMPSON INVESTMENT MANAGEMENT, INC.3.0K$73.6K+0 (+0.0%)No change

Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.

Top questions investors are asking

Coming once ASBA's latest filing finishes processing.

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Latest filing impact
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