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ASB

Associated Banc-CorpNYSE:ASB Stock Report

Last Price

US$24.33

Market Cap

US$3.6b

7D

-4.4%

1Y

25.9%

Updated

21 Jan, 2022

Data

Company Financials +
ASB fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health6/6
Dividends5/6

ASB Stock Overview

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

Associated Banc-Corp Competitors

Signature Bank

NasdaqGS:SBNY

US$20.2b

Cullen/Frost Bankers

NYSE:CFR

US$8.4b

Commerce Bancshares

NasdaqGS:CBSH

US$8.3b

First Financial Bankshares

NasdaqGS:FFIN

US$6.9b

Price History & Performance

Summary of all time highs, changes and price drops for Associated Banc-Corp
Historical stock prices
Current Share PriceUS$24.33
52 Week HighUS$25.55
52 Week LowUS$17.75
Beta1.13
1 Month Change9.55%
3 Month Change7.56%
1 Year Change25.93%
3 Year Change10.44%
5 Year Change-4.40%
Change since IPO350.27%

Recent News & Updates

Nov 04

Associated Banc-Corp: Earnings Outlook Riding On Loan Initiatives

The new auto finance and equipment finance programs will likely reverse the declining loan trend. Further, ASB is planning to expand its asset-based lending program. ASB has surprisingly posted a large reversal of provisioning in the first three quarters of 2021. Provisions will likely return to a more normal level next year. The December 2022 target price suggests a small upside from the current market price. Further, ASB is offering a decent dividend yield.

Oct 30
Associated Banc-Corp's (NYSE:ASB) Shareholders Will Receive A Bigger Dividend Than Last Year

Associated Banc-Corp's (NYSE:ASB) Shareholders Will Receive A Bigger Dividend Than Last Year

Associated Banc-Corp ( NYSE:ASB ) has announced that it will be increasing its dividend on the 15th of December to...

Shareholder Returns

ASBUS BanksUS Market
7D-4.4%-8.1%-6.1%
1Y25.9%24.9%4.2%

Return vs Industry: ASB underperformed the US Banks industry which returned 28% over the past year.

Return vs Market: ASB exceeded the US Market which returned 6.6% over the past year.

Price Volatility

Is ASB's price volatile compared to industry and market?
ASB volatility
ASB Average Weekly Movement4.4%
Banks Industry Average Movement3.9%
Market Average Movement6.7%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.4%

Stable Share Price: ASB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ASB's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18614,006Andy Harmeninghttps://www.associatedbank.com

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 savings, money market deposit accounts, IRA accounts, and certificates of deposit; 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; and 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.

Associated Banc-Corp Fundamentals Summary

How do Associated Banc-Corp's earnings and revenue compare to its market cap?
ASB fundamental statistics
Market CapUS$3.59b
Earnings (TTM)US$319.43m
Revenue (TTM)US$1.12b

11.2x

P/E Ratio

0.9x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ASB income statement (TTM)
RevenueUS$1.12b
Cost of RevenueUS$0
Gross ProfitUS$1.12b
ExpensesUS$796.24m
EarningsUS$319.43m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.17
Gross Margin100.00%
Net Profit Margin28.63%
Debt/Equity Ratio55.8%

How did ASB perform over the long term?

See historical performance and comparison

Dividends

3.3%

Current Dividend Yield

35%

Payout Ratio

Valuation

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

19.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ASB ($24.33) is trading below our estimate of fair value ($30.31)

Significantly Below Fair Value: ASB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ASB is poor value based on its PE Ratio (11.2x) compared to the US Banks industry average (11x).

PE vs Market: ASB is good value based on its PE Ratio (11.2x) compared to the US market (16.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

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


Future Growth

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

-7.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASB's earnings are forecast to decline over the next 3 years (-7.4% per year).

Earnings vs Market: ASB's earnings are forecast to decline over the next 3 years (-7.4% per year).

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

Revenue vs Market: ASB's revenue (6.2% per year) is forecast to grow slower than the US market (9.2% per year).

High Growth Revenue: ASB's revenue (6.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ASB's Return on Equity is forecast to be low in 3 years time (7.4%).


Past Performance

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

9.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ASB has high quality earnings.

Growing Profit Margin: ASB's current net profit margins (28.6%) are higher than last year (25.3%).


Past Earnings Growth Analysis

Earnings Trend: ASB's earnings have grown by 9.7% per year over the past 5 years.

Accelerating Growth: ASB's earnings growth over the past year (9.1%) is below its 5-year average (9.7% per year).

Earnings vs Industry: ASB earnings growth over the past year (9.1%) underperformed the Banks industry 43.4%.


Return on Equity

High ROE: ASB's Return on Equity (8.5%) is considered low.


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


Financial Institutions Analysis

Asset Level: ASB's Assets to Equity ratio (8.6x) is low.

Allowance for Bad Loans: ASB has a sufficient allowance for bad loans (215%).

Low Risk Liabilities: 91% of ASB's liabilities are made up of primarily low risk sources of funding.

Loan Level: ASB has an appropriate level of Loans to Assets ratio (68%).

Low Risk Deposits: ASB's Loans to Deposits ratio (84%) is appropriate.

Level of Bad Loans: ASB has an appropriate level of bad loans (0.6%).


Dividend

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

3.29%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ASB's dividend (3.29%) is higher than the bottom 25% of dividend payers in the US market (1.36%).

High Dividend: ASB's dividend (3.29%) is low compared to the top 25% of dividend payers in the US market (3.55%).


Stability and Growth of Payments

Stable Dividend: ASB's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.1%), ASB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ASB's dividends in 3 years are forecast to be well covered by earnings (42.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.4yrs

Average management tenure


CEO

Andy Harmening (52 yo)

0.75

Tenure

Mr. Andrew J. Harmening, also known as Andy, serves as President and Chief Executive Officer at Associated Banc-Corp and Associated Bank, National Association since April 28, 2021. He serves as President o...


Leadership Team

Experienced Management: ASB's management team is seasoned and experienced (8.4 years average tenure).


Board Members

Experienced Board: ASB's board of directors are considered experienced (8.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ASB insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Associated Banc-Corp
  • Ticker: ASB
  • Exchange: NYSE
  • Founded: 1861
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$3.587b
  • Shares outstanding: 147.42m
  • Website: https://www.associatedbank.com

Number of Employees


Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 23:35
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.