RBC raises target for Associated Banc-Corp stock to USD 34.00
Published on 10/25/2026 at 00:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSBanking outlook and valuation
- RBC raised its Associated Banc-Corp target to USD 34.00 from USD 33.00 on October 23, 2026.
- Adjusted earnings per share reached USD 0.81 in the third quarter of 2026 versus USD 0.77 consensus.
- Associated Banc-Corp stock last stood at USD 30.21 at 4:00 p.m. EDT on October 23, 2026.
- Market capitalization stood at USD 5.0 billion on October 23, 2026.
Associated Banc-Corp (ISIN US0454871056) received a higher RBC price target of USD 34.00 from USD 33.00 on October 23, 2026, while the bank kept its Sector Perform rating, MarketScreener reported. The move followed Associated's third-quarter results released on October 22, 2026.
Results strengthen the earnings case
PR Newswire reported that Associated earned USD 0.76 in diluted GAAP earnings per share and USD 0.81 in adjusted earnings per share for the third quarter of 2026. The adjusted figure exceeded the USD 0.77 consensus cited in the results coverage, while nonrecurring acquisition costs affected the quarter.
The bank reported net interest income of USD 377 million for the third quarter of 2026, up USD 72 million from the same quarter of 2025. Its net interest margin reached 3.20 percent, up 3 basis points from the prior quarter and 16 basis points year over year.
What does the margin mean?
The margin expansion gives the target increase a measurable operating basis, but expenses remain a counterweight. Third-quarter noninterest expense rose to USD 260 million, up USD 44 million from the year-earlier quarter, including USD 13 million of nonrecurring acquisition costs. Associated also repurchased USD 100 million of common stock during the quarter.
Three dated milestones
On April 1, 2026, Associated completed its acquisition of American National Corporation, a transaction whose integration costs affected the third quarter, according to PR Newswire. On October 22, 2026, the bank reported third-quarter adjusted earnings per share of USD 0.81. On October 23, 2026, MarketScreener reported RBC's increase from USD 33.00 to USD 34.00.
Stock valuation and next steps
Associated reported total loans of USD 36.5 billion and total deposits of USD 40.4 billion at September 30, 2026. Management maintained 2026 period-end loan growth guidance of 18 percent to 20 percent and net interest income growth guidance of 19 percent to 21 percent, as reported by PR Newswire. The bank's next reporting date is not included here as a scheduled event.
NYSE price sets the valuation frame
On the NYSE, Associated Banc-Corp last stood at USD 30.21 on October 23, 2026 at 4:00 p.m. EDT. The stock's 52-week range was USD 23.87 to USD 32.46, leaving the latest closing level below the high and above the low. Market capitalization stood at USD 5.0 billion on October 23, 2026. The further course of trading is shown by the continuously updated real-time quote of Associated Banc-Corp stock.
Associated Banc-Corp stock facts
- Company: Associated Banc-Corp
- ISIN: US0454871056
- Ticker: ASB
- Primary exchange: NYSE
- Market capitalization: USD 5.0 billion (as of October 23, 2026)
- 52-week range: USD 23.87-32.46 (as of October 23, 2026)
- Sector / Industry: Financials / Banks
Market context: Market report S&P 500.
