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Investing.com - Keefe, Bruyette & Woods reiterated its Market Perform rating and $28.00 price target on Associated Banc-Corp (NYSE:ASB) on Wednesday.
KBW cited ASB’s plans to drive continued positive operating leverage in the second half of 2025 while achieving sustainable organic growth following the execution of its strategic plan.
The firm noted that ASB’s reiterated fiscal year 2025 net interest income guidance of 14-15% growth remains achievable, with KBW estimating 14.8% growth.
KBW expects a 130 basis point year-over-year return on tangible common equity improvement in 2025 to 12.8%, while for 2026 the firm models 300 basis points of positive operating leverage and an ROTCE in the approximately 12.5-13.0% range.
The research firm believes ASB’s current valuation gap to peers can narrow from 1.3x tangible book value versus the KRX index at 1.6x as the bank continues to hit its growth, profitability, and operating leverage milestones.
In other recent news, Associated Banc-Corp reported its second-quarter earnings for 2025, surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $0.65, beating the forecasted $0.62, resulting in a 4.84% earnings surprise. Additionally, Associated Banc-Corp exceeded revenue projections, reporting $366.98 million compared to the anticipated $362.32 million. These developments highlight the company’s strong financial performance in the recent quarter. Despite these positive results, the stock experienced a decline in regular trading but saw a slight increase in after-hours trading. Investors might take note of the company’s ability to outperform analyst estimates in both earnings and revenue. These results could influence future analyst recommendations and investor sentiment regarding Associated Banc-Corp.
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