Associated Banc-Corp Valuation

Is ASB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ASB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ASB ($22.91) is trading below our estimate of fair value ($39.24)

Significantly Below Fair Value: ASB is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for ASB?

Other financial metrics that can be useful for relative valuation.

ASB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.6x

Price to Earnings Ratio vs Peers

How does ASB's PE Ratio compare to its peers?

The above table shows the PE ratio for ASB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.1x
AUB Atlantic Union Bankshares
17.2x23.3%US$3.6b
FINN First National of Nebraska
10.7xn/aUS$3.0b
FBP First BanCorp
11.2x-3.8%US$3.5b
TFSL TFS Financial
49.2x3.2%US$3.8b
ASB Associated Banc-Corp
23.3x41.8%US$3.5b

Price-To-Earnings vs Peers: ASB is expensive based on its Price-To-Earnings Ratio (23.3x) compared to the peer average (22.1x).


Price to Earnings Ratio vs Industry

How does ASB's PE Ratio compare vs other companies in the US Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.5%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.5%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: ASB is expensive based on its Price-To-Earnings Ratio (23.3x) compared to the US Banks industry average (11.1x).


Price to Earnings Ratio vs Fair Ratio

What is ASB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ASB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.3x
Fair PE Ratio20x

Price-To-Earnings vs Fair Ratio: ASB is expensive based on its Price-To-Earnings Ratio (23.3x) compared to the estimated Fair Price-To-Earnings Ratio (20x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ASB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$22.91
US$23.40
+2.1%
6.4%US$27.00US$22.00n/a10
Jul ’25US$20.83
US$23.60
+13.3%
6.1%US$27.00US$22.00n/a10
Jun ’25US$21.42
US$23.80
+11.1%
5.6%US$27.00US$22.00n/a10
May ’25US$21.56
US$23.70
+9.9%
5.7%US$27.00US$22.00n/a10
Apr ’25US$21.27
US$23.20
+9.1%
7.4%US$27.00US$20.00n/a10
Mar ’25US$20.64
US$23.30
+12.9%
7.2%US$27.00US$20.00n/a10
Feb ’25US$20.84
US$23.30
+11.8%
7.2%US$27.00US$20.00n/a10
Jan ’25US$21.39
US$20.60
-3.7%
10.5%US$25.00US$17.00n/a10
Dec ’24US$18.74
US$19.70
+5.1%
10.8%US$25.00US$17.00n/a10
Nov ’24US$16.17
US$19.10
+18.1%
12.0%US$25.00US$17.00n/a10
Oct ’24US$17.11
US$20.25
+18.4%
8.5%US$24.00US$18.00n/a10
Sep ’24US$17.67
US$19.75
+11.8%
6.1%US$22.00US$18.00n/a10
Aug ’24US$18.43
US$19.75
+7.2%
6.1%US$22.00US$18.00n/a10
Jul ’24US$16.23
US$19.50
+20.1%
7.3%US$22.00US$17.50US$20.839
Jun ’24US$15.11
US$19.89
+31.6%
8.7%US$24.00US$18.00US$21.429
May ’24US$17.24
US$20.67
+19.9%
12.3%US$26.00US$18.00US$21.569
Apr ’24US$17.98
US$23.56
+31.0%
11.9%US$28.00US$19.00US$21.279
Mar ’24US$23.29
US$25.13
+7.9%
5.8%US$28.00US$23.00US$20.648
Feb ’24US$22.73
US$25.13
+10.5%
5.8%US$28.00US$23.00US$20.848
Jan ’24US$23.09
US$25.13
+8.8%
7.0%US$28.00US$23.00US$21.398
Dec ’23US$24.52
US$24.75
+0.9%
6.6%US$28.00US$23.00US$18.748
Nov ’23US$24.65
US$24.75
+0.4%
6.6%US$28.00US$23.00US$16.178
Oct ’23US$20.08
US$23.38
+16.4%
11.3%US$28.00US$20.00US$17.118
Sep ’23US$19.96
US$23.50
+17.7%
11.7%US$28.00US$20.00US$17.678
Aug ’23US$20.15
US$23.38
+16.0%
11.9%US$28.00US$20.00US$18.438
Jul ’23US$18.50
US$24.50
+32.4%
9.6%US$28.00US$20.00US$16.238

Analyst Forecast: Target price is less than 20% higher than the current share price.


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