Associated Banc-Corp (ASB) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Associated Banc-Corp

Market cap $5B · 52 weeks $24 – $32 (6 % below the high) · P/E 10.5× · 2027 est. P/E 8.9× · Dividend 3.2 % · ≥ 11 years rising · Next earnings January 28, 2027 · expected EPS $0.80 · Closing price, Oct 30 · accounts published Oct 22.

• Valuation: P/B 1.0× (justified).
• Business: ROTCE 12.3 % (passes, near the threshold).
• Balance sheet: Capital/assets 11.0 % (solid).
• Earnings: 7 of 8 (on track).

What would it be worth at its usual multiples?

At Kaplio's cap P/B for its ROTCE 12.3 % (1.3×) $38 (+26 %); at its peers' median (1.4×) $41 (+37 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in banking: 5 of 5 pass

• ROA 1.0 %, passes, near the threshold.
• ROTCE 12.3 %, passes, near the threshold.
• Equity / Assets (Tier 1 proxy) 11.0 %, passes.
• P/B (Price / Book) 1.0×, passes.
• Sustainable dividend yield 3.2 %, passes.

Against its peers (reference peers) — Associated Banc-Corp: P/E 10.5×; P/B 1.0×; ROE 10.0 %; $5.0B. Intercorp Financial Services Inc. (P/E 8.7×; P/B 1.4×; ROE 16.9 %; $5.2B), Grupo Aval Acciones y Valores S.A. (P/E 9.8×; P/B 0.9×; ROE 9.5 %; $5.3B), ServisFirst Bancshares, Inc. (P/E 12.8×; P/B 2.2×; ROE 17.6 %; $4.4B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 1.0× · median 0.9× · minimum 0.5× · maximum 1.3× · cheap below 0.8× · expensive above 1.1×. It has been cheaper than today 76% of the time over its last ten fiscal years.

Dividend

solid · Yield 3.2 % ($1.01 per share in 2025) · Years raising it ≥ 11 · 5-year growth +4 % a year · Free cash flow coverage payout 35 % · With $1,000 invested today you'd collect $31.70 a year ($2.64 a month).