NYSE:ASB.PRE

Stock Analysis Report

Executive Summary

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota.

Snowflake

Fundamentals

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has Associated Banc-Corp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.7%

ASB.PRE

1.7%

US Banks

1.3%

US Market


1 Year Return

10.9%

ASB.PRE

0.3%

US Banks

5.9%

US Market

Return vs Industry: ASB.PRE exceeded the US Banks industry which returned 0.3% over the past year.

Return vs Market: ASB.PRE exceeded the US Market which returned 5.9% over the past year.


Shareholder returns

ASB.PREIndustryMarket
7 Day1.7%1.7%1.3%
30 Day1.0%-2.4%-1.9%
90 Day3.2%1.0%-1.8%
1 Year15.9%10.9%3.2%0.3%8.3%5.9%
3 Yearn/a52.1%41.7%45.6%36.2%
5 Yearn/a69.8%51.4%66.1%47.9%

Price Volatility Vs. Market

How volatile is Associated Banc-Corp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Associated Banc-Corp undervalued compared to its fair value and its price relative to the market?

2.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: ASB.PRE ($26.71) is trading below our estimate of fair value ($27.51)

Significantly Undervalued: ASB.PRE is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ASB.PRE is good value based on its PE Ratio (9.9x) compared to the Banks industry average (12.5x).

PE vs Market: ASB.PRE is good value based on its PE Ratio (9.9x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: ASB.PRE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ASB.PRE is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Associated Banc-Corp forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-3.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASB.PRE's earnings are forecast to decline over the next 3 years (-3.6% per year).

Earnings vs Market: ASB.PRE's earnings are forecast to decline over the next 3 years (-3.6% per year).

High Growth Earnings: ASB.PRE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ASB.PRE's revenue (2% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: ASB.PRE's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: ASB.PRE's Return on Equity is forecast to be low in 3 years time (8.5%).


Next Steps

Past Performance

How has Associated Banc-Corp performed over the past 5 years?

13.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ASB.PRE's earnings have grown by 13.6% per year over the past 5 years.

Accelerating Growth: ASB.PRE's earnings growth over the past year (25.8%) exceeds its 5-year average (13.6% per year).

Earnings vs Industry: ASB.PRE earnings growth over the past year (25.8%) underperformed the Banks industry 31.8%.


Return on Equity

High ROE: ASB.PRE's Return on Equity (8.9%) is considered low.


Return on Assets

ROA vs Industry: ASB.PRE's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate ASB.PRE's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Associated Banc-Corp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: ASB.PRE has a low level of unsold assets or inventory.

Debt Coverage by Assets: ASB.PRE's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: ASB.PRE's level of assets compared to its equity is low.

Allowance for Bad Loans: ASB.PRE has a sufficient allowance for bad loans.

Low Risk Liabilities: ASB.PRE's liabilities are made up of primarily low risk sources of funding.

Loan Level: ASB.PRE has an acceptable proportion of non-loan assets held.

Low Risk Deposits: ASB.PRE's loans are broadly funded by customer deposits.

Level of Bad Loans: ASB.PRE has an appropriate level of bad loans (0.72%)


Next Steps

Dividend

What is Associated Banc-Corp's current dividend yield, its reliability and sustainability?

3.42%

Current Dividend Yield


Dividend Yield vs Market

company3.4%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Years3.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ASB.PRE's dividend (3.42%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: ASB.PRE's dividend (3.42%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: ASB.PRE's dividend payments have been volatile in the past 10 years.

Growing Dividend: ASB.PRE's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33%), ASB.PRE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ASB.PRE's dividends in 3 years are forecast to be well covered by earnings (40.6% payout ratio).


Next Steps

Management

What is the CEO of Associated Banc-Corp's salary, the management and board of directors tenure and is there insider trading?

7.5yrs

Average management tenure


CEO

Phil Flynn (62yo)

9.8yrs

Tenure

US$5,172,842

Compensation

Mr. Philip B. Flynn, also known as Phil, has been President, Chief Executive Officer and Director of Associated Banc-Corp since December 2009. Mr. Flynn has more than 30 years of financial services industr ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Phil 's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Phil 's compensation has been consistent with company performance over the past year.


Management Age and Tenure

7.5yrs

Average Tenure

53.5yo

Average Age

Experienced Management: ASB.PRE's management team is seasoned and experienced (7.5 years average tenure).


Board Age and Tenure

9.3yrs

Average Tenure

65yo

Average Age

Experienced Board: ASB.PRE's board of directors are considered experienced (9.3 years average tenure).


Insider Trading

Insider Buying: ASB.PRE insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$53,00007 Aug 19
Christopher Del Moral-Niles
EntityIndividual
Role
Chief Financial Officer
Executive VP & CFO
Shares2,000
Max PriceUS$26.50

Ownership Breakdown


Management Team

  • Phil Flynn (62yo)

    President

    • Tenure: 9.8yrs
    • Compensation: US$5.17m
  • Randy Erickson (60yo)

    Executive VP

    • Tenure: 7.5yrs
    • Compensation: US$1.49m
  • Chris Del Moral-Niles (48yo)

    Executive VP & CFO

    • Tenure: 7.6yrs
    • Compensation: US$1.70m
  • Robb Timme

    Vice President of Investor Relations

    • Tenure: 0yrs
  • David Stein (56yo)

    Madison Market President of Associated Bank

    • Tenure: 12.3yrs
    • Compensation: US$1.19m
  • John Utz (51yo)

    Executive VP

    • Tenure: 8.3yrs
    • Compensation: US$1.53m
  • Tammy Stadler

    Corporate Controller & Principal Accounting Officer

    • Tenure: 0yrs
  • Christopher Piotrowski (44yo)

    Executive VP & Chief Marketing Officer

    • Tenure: 4.8yrs
  • Anthony Pecora

    Senior Vice President and Director of Compliance

    • Tenure: 3.8yrs
  • Mike Meinolf

    Executive VP & Chief Information Officer

    • Tenure: 1.1yrs

Board Members

  • William Hutchinson (77yo)

    Chairman of the Board

    • Tenure: 9.8yrs
    • Compensation: US$296.50k
  • John Bergstrom (73yo)

    Director

    • Tenure: 8.8yrs
    • Compensation: US$195.00k
  • Rick Lommen (53yo)

    Director

    • Tenure: 15yrs
    • Compensation: US$205.00k
  • Eileen Kamerick (61yo)

    Director

    • Tenure: 12.6yrs
    • Compensation: US$206.50k
  • Phil Flynn (62yo)

    President

    • Tenure: 9.8yrs
    • Compensation: US$5.17m
  • Bob Jeffe (68yo)

    Director

    • Tenure: 8.7yrs
    • Compensation: US$196.50k
  • Jay Williams (68yo)

    Director

    • Tenure: 8.3yrs
    • Compensation: US$205.00k
  • Karen van Lith (59yo)

    Director

    • Tenure: 15.5yrs
    • Compensation: US$205.00k
  • Robert Gerken (68yo)

    Director

    • Tenure: 5yrs
    • Compensation: US$205.00k
  • Cory Nettles (49yo)

    Director

    • Tenure: 5.8yrs
    • Compensation: US$195.00k

Company Information

Associated Banc-Corp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Associated Banc-Corp
  • Ticker: ASB.PRE
  • Exchange: NYSE
  • Founded: 1861
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$3.178b
  • Shares outstanding: 159.72m
  • Website: https://www.associatedbank.com

Number of Employees


Location

  • Associated Banc-Corp
  • 433 Main Street
  • Green Bay
  • Wisconsin
  • 54301
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASBNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1975
AB5DB (Deutsche Boerse AG)YesCommon StockDEEURDec 1975
ASB.PRDNYSE (New York Stock Exchange)DEP PFD NONCUM DUSUSDSep 2016
ASB.PRENYSE (New York Stock Exchange)DEP SHS PFD EUSUSDSep 2018

Biography

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty se ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 00:33
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.