Associated Banc-Corp Q3 adjusted EPS beats estimates
Overview
US Midwest regional bank's Q3 adjusted EPS beat analyst expectations
Net interest income rose 24% yr/yr, driven by deposit growth and margin expansion
Company repurchased $100 mln in common stock during the quarter
Outlook
Company expects 2026 period end loan growth of 18% to 20% vs 2025
Associated Banc-Corp sees 2026 period end total deposit growth of 17% to 19%
Company now expects 2026 net interest income growth of 19% to 21% vs 2025
Result Drivers
DEPOSIT GROWTH - Co said strong growth in core customer deposits contributed to quarterly results
NET INTEREST MARGIN - Net interest margin expanded to 3.20%, up 3 basis points from the prior quarter and 16 basis points from the same period last year
FEE INCOME - Noninterest income rose 7% yr/yr, with increases in service charges, card-based fees, and other fee-based revenue
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Beat | $0.81 | $0.72 (10 Analysts) |
Q3 EPS | $0.76 | ||
Q3 Net Income | $146.6 mln | ||
Q3 Net Interest Income | $377.3 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Associated Banc-Corp is $34.00, about 16.5% above its October 21 closing price of $29.18
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
Reuters Recommended Reads
Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%
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Oct 22 - Huntington Bancshares Q3 EPS unchanged, net interest income up
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)