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ASB · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Associated Banc-Corp (ASB) stock moving?
Associated Banc-Corp's most recent quarterly release (Oct 22, from SEC filings) reported Q3 2026 EPS of $0.76, or $0.81 excluding nonrecurring acquisition costs, up from $0.73 a year earlier. Core customer deposits grew 21% year over year to $34.8B, net interest margin reached 3.20%, and net charge-offs were a low 0.19% of average loans. The company also repurchased $100M of stock during the quarter and said it is finalizing its next strategic initiatives for 2027. Since then, Barclays kept its Overweight rating and raised its target to $37 (Nov 3), and the company reported a $2.1M community investment (Nov 6). The stock has traded in a $30.0 to $31.4 range over the past two weeks after a high of $32.19 on Nov 5, which then reversed to $30.54. It has since recovered to $30.91 on Nov 10, with volume falling to about 1.6M shares from a 3.8M peak on Nov 4. Support sits near $30.0 and resistance near $31.4 to $32.2. Loan growth was flat in the quarter (+0.1% sequentially), which tempers the otherwise strong earnings picture.
News behind the analysis
- Associated Banc-Corp Announces $2.1 Million Community Investment in Nebraska and IowaAssociated Banc-Corp and its foundation committed $2.1 million to community organizations in Nebraska and Council Bluffs, Iowa, following the integration of American National Bank customer accounts.
- Barclays Maintains Overweight on Associated Banc, Raises Price Target to $37Barclays kept its Overweight rating on Associated Banc and raised its price target to $37, about 20% above the Nov 10 close of $30.91.
About Associated Banc-Corp
Associated Banc-Corp is a regional bank holding company based in Green Bay, Wisconsin. It is one of the largest banks headquartered in Wisconsin, with roughly $45 billion in assets, and serves consumers and businesses across the Midwest. In April 2026 it bought American National Corporation, which made the bank bigger and took it into new markets.
How it makes money
Most of its revenue, very roughly three-quarters, is net interest income. That is the gap between the interest it earns on commercial, real estate and consumer loans and the interest it pays on deposits. The rest comes from fees for things like wealth management, card and deposit services, mortgage banking and other banking services.
What usually moves ASB
- Interest rates and net interest margin
- Commercial loan growth and credit quality
- Deposit costs and competition for deposits
- Integration of the American National acquisition
- Midwest economic conditions