Stock fact sheet · data as of
Associated Banc-Corp (ASBA): fair value, margin of safety and Wheel Score
Financial Services · Banks - Regional · United States · High Yield Income
Is ASBA undervalued?
ASBA has a margin of safety of 57%: the stock closed at 24.96 on 16 Oct 2026 against a GLS average fair value of 57.59. 5 of the 9 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between GLS Growth (7.20) and DCF (212.66). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files ASBA under High Yield Income: a dividend yield above 4%.
Nine valuation models for ASBA
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 212.66 | +752% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 34.31 | +37% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 35.19 | +41% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 11.25 | -55% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 7.20 | -71% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 94.67 | +279% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 81.05 | +225% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 24.37 | -2% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 17.63 | -29% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -206.71 | -928% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Associated Banc-Corp scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 3.7/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are moderate - ROIC 9.9%, ROE 9.9%, ROA 1.1% - with debt at 0.00 times equity and a free-cash-flow yield of 17.4%.
The dividend yield is high at 6.64% (payout ratio 65%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Credit and Debit Card 71%, Financial Service, Other 29% (quarter Q2 FY2026).
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 9.9% |
|---|---|---|---|
| GLS Moat | 3.7 / 10 | ROE | 9.9% |
| Debt / equity | 0.00 | ROA | 1.1% |
| Free-cash-flow yield | 17.4% | Payout ratio | 65% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 39: No options
No options are listed on Associated Banc-Corp in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 39) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 13k shares a day on a market cap of $4.1B, with a beta of 0.61 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 10 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 57% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 6 / 15 | moat 3.7/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 10 / 20 | 13k shares/day, $4.1B cap, beta 0.61 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Associated Banc-Corp reports earnings on 22 Oct 2026 - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Associated Banc-Corp by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| FBP First BanCorp. | 27.19 | 38.50 | +29% | 91Prime | $4.2B |
| BMA Banco Macro S.A. | 65.03 | 93,106.43 | +100% | 76Good | $4.2B |
| SFBS ServisFirst Bancshares, Inc. | 38.07 | 51.20 | +26% | 87Prime | $4.2B |
| IBOC International Bancshares Corporation | 67.65 | 101.97 | +34% | 85Prime | $4.2B |
| CATY Cathay General Bancorp | 60.15 | 83.35 | +28% | 85Prime | $4.0B |
| UCB United Community Banks, Inc. | 33.16 | 44.59 | +26% | 88Prime | $4.0B |
| FULT Fulton Financial Corporation | 22.35 | 29.55 | +24% | 85Prime | $4.3B |
| FULTP Fulton Financial Corporation | 16.63 | 26.24 | +37% | 39No options | $4.3B |
| TCBIO Texas Capital Bancshares, Inc. | 18.28 | 104.96 | +83% | 39No options | $4.0B |
| WSFS WSFS Financial Corporation | 75.23 | 78.48 | +4% | 67Good | $3.9B |
| CVBF CVB Financial Corp. | 21.83 | 37.09 | +41% | 91Prime | $3.8B |
| FFIN First Financial Bankshares, Inc. | 31.59 | 25.52 | -24% | 63Fair | $4.5B |
⚖ Compare ASBA with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about ASBA
Is ASBA undervalued right now?
By the GLS models, yes: at 24.96 the stock is 57% below the average fair value of 57.59 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of ASBA and what does it mean?
ASBA has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for ASBA?
57.59 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Associated Banc-Corp report earnings next?
The next earnings report is due on 22 Oct 2026, 6 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does ASBA have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on ASBA, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.