Wells Fargo cuts target for Associated Banc-Corp stock from USD 36.00 to USD 35.00

Published on 10/05/2026 at 06:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter loans reached USD 36.50 billion, up 19.00 percent year over year. Associated Banc-Corp stock receives a USD 31.90 average target.

ASB, US0454871056, Illustration mit AI erstellt.

Associated Banc-Corp (ISIN US0454871056) faces a lower Wells Fargo target of USD 35.00, down from USD 36.00 in the September 30, 2026 analyst update, while the bank's prior close at Lang & Schwarz was EUR 25.70 on October 2, 2026. The Wells Fargo note kept an Overweight rating, according to Yahoo Finance.

Loan growth remains the key figure

Associated Banc-Corp reported second-quarter 2026 net income available to common equity of USD 121.00 million, or USD 0.63 per diluted share, while adjusted earnings reached USD 140.00 million, or USD 0.73 per share, according to StockTitan. Net interest income was USD 370.00 million and net interest margin improved to 3.17 percent in the same quarter.

The balance sheet carried the growth story further. Total loans reached USD 36.50 billion in the second quarter, up 19.00 percent year over year, while deposits stood at USD 39.90 billion, up 17.00 percent, based on the same StockTitan filing summary.

Guidance points to integration costs

Associated Banc-Corp reiterated its full-year 2026 outlook in the September 14, 2026 investor update. The bank expects total loans to rise 18.00 to 20.00 percent, total deposits to increase 17.00 to 19.00 percent and net interest income to grow 19.00 to 21.00 percent.

The same update projected a 10.00 to 10.75 percent CET1 capital ratio and noninterest expense growth of 20.00 to 21.00 percent. That combination puts the investment case on two tracks: acquisition-driven balance-sheet expansion and the cost of integrating American National Corporation.

Analysts balance growth and valuation

MarketBeat reported on October 3, 2026 that 12 research firms split between six buy ratings and six hold ratings, producing a USD 31.90 average 12-month target. The target is USD 3.19 above the USD 28.71 equivalent of the Lang & Schwarz prior close only if currencies are converted, so no cross-currency upside calculation is used here.

For a same-currency comparison, the second-quarter adjusted earnings figure of USD 0.73 per share exceeded the USD 0.72 consensus estimate, while reported revenue of USD 454.54 million exceeded the USD 438.01 million estimate, according to MarketBeat. Yahoo Finance lists October 22, 2026 as the next earnings date for the third quarter.

Prior close sets the market reference

Lang & Schwarz shows a prior close of EUR 25.70 for October 2, 2026. On the NYSE, Associated Banc-Corp closed at USD 29.00 on October 2, 2026, with a market capitalization of USD 5.5 billion and a 52-week range of USD 23.86 to USD 32.46.