Piper Sandler Upgrades Associated Banc (NYSE:ASB) to “Hold”

Posted by George Bondi on Aug 27th, 2026

Associated Banc (NYSE:ASB – Get Free Report) was upgraded by research analysts at Piper Sandler to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on ASB. Barclays lifted their price target on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Raymond James Financial upped their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wells Fargo & Company raised their target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Truist Financial lifted their target price on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

View Our Latest Stock Analysis on Associated Banc

Associated Banc Stock Performance

ASB opened at $30.88 on Wednesday. The firm has a market cap of $5.83 billion, a PE ratio of 10.80, a P/E/G ratio of 1.05 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $30.91 and a 200-day simple moving average of $28.52. Associated Banc has a fifty-two week low of $23.86 and a fifty-two week high of $32.46.

Associated Banc (NYSE:ASB – Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $454.54 million for the quarter, compared to analyst estimates of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same period in the previous year, the firm earned $0.65 earnings per share. As a group, equities analysts predict that Associated Banc will post 2.92 EPS for the current fiscal year.

Insider Activity at Associated Banc

In related news, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the transaction, the executive vice president directly owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory Warsek sold 16,300 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the transaction, the executive vice president owned 13,809 shares in the company, valued at approximately $442,026.09. This represents a 54.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 87,524 shares of company stock worth $2,746,671. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds have recently modified their holdings of ASB. Brown Financial Advisors acquired a new position in shares of Associated Banc in the second quarter worth $205,000. HighTower Advisors LLC grew its stake in Associated Banc by 19.1% in the second quarter. HighTower Advisors LLC now owns 12,677 shares of the bank’s stock valued at $390,000 after purchasing an additional 2,035 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Associated Banc in the second quarter valued at about $748,000. California State Teachers Retirement System increased its position in Associated Banc by 2,560.2% in the 2nd quarter. California State Teachers Retirement System now owns 5,805,684 shares of the bank’s stock worth $188,680,000 after purchasing an additional 5,587,438 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in Associated Banc in the 2nd quarter worth about $370,000. 82.98% of the stock is owned by institutional investors and hedge funds.

About Associated Banc

(Get Free Report)

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.