Associated Banc Upgraded to Buy by Wall Street Zen

Several analysts raise price targets and ratings for the regional bank

Apr. 12, 2026 at 8:19am

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An extreme close-up of intricate, interlocking banking machinery and mechanisms, conveying a sense of the institutional power and security behind the regional bank's operations.The upgraded ratings for Associated Banc reflect growing confidence in the regional bank's financial strength and stability.Green Bay Today

Wall Street Zen upgraded shares of Associated Banc (NYSE:ASB) from a hold rating to a buy rating in a research report published on Saturday. Several other research firms also recently weighed in on the stock, with Stephens, Royal Bank of Canada, Wells Fargo, and Weiss Ratings all raising their ratings and price targets for the regional bank.

Why it matters

The upgraded ratings and price targets from multiple respected research firms suggest growing optimism about Associated Banc's financial performance and future growth prospects. As a regional Midwest bank, Associated Banc's performance is seen as an indicator of the broader economic health of the region it serves.

The details

Wall Street Zen cited the bank's strong earnings results and revenue growth in its decision to upgrade the stock. Several other firms also cited Associated Banc's solid fundamentals, including its loan and deposit growth, as reasons for their more bullish stances. The bank recently announced a $100 million share repurchase program, which the firms view as a positive sign of management's confidence in the company's outlook.

  • Associated Banc reported Q4 2025 earnings on January 22, 2026.
  • The company announced a $100 million share buyback program on January 27, 2026.
  • The upgraded ratings and price targets were published on April 12, 2026.

The players

Wall Street Zen

A financial research and analysis firm that upgraded Associated Banc's stock rating to buy.

Stephens

An investment banking and financial services firm that raised its rating on Associated Banc to overweight.

Royal Bank of Canada

A global financial institution that boosted its price target for Associated Banc.

Wells Fargo & Company

A major U.S. bank that increased its price target for Associated Banc's stock.

Weiss Ratings

A financial research firm that upgraded Associated Banc's rating to buy.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

What’s next

Associated Banc's board of directors will meet in the coming weeks to discuss the company's capital allocation plans, including the potential expansion of the existing share repurchase program.

The takeaway

The upgraded ratings and price targets from multiple respected research firms highlight the growing optimism around Associated Banc's financial performance and future growth prospects. As a regional Midwest bank, the company's performance is seen as an indicator of the broader economic health of the region it serves.