AlphaMadera's AlphaVal page computes Associated Banc-Corp's fair value using a multi-method blend (DCF, comparable-multiples, and Graham-style intrinsic value), then compares it to the current market price to flag ASB as undervalued, fairly valued, or overvalued.

What is Associated Banc-Corp's fair value?

Fair value for ASB is a model output combining discounted cash flow projections, peer-group multiples, and a Graham number floor. The live AlphaVal page shows the blended fair value alongside each method's individual estimate.

How does AlphaMadera value ASB?

AlphaVal uses three primary techniques: a five-year discounted-cash-flow projection with terminal multiple, peer-group multiple analysis (P/E, EV/EBITDA, P/S), and Graham's defensive-investor intrinsic-value formula. Inputs come from ASB's most recent reported fundamentals.

ASB - Associated Banc-Corp

Price: -- -- | CONSENSUS: Hold DETAILS | PRICE TARGET: $29.71 DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Banks, Insurers & Asset Managers 85% confidence

Primary model: P/Tangible Book × ROE Quality

Valuation Signal Undervalued Moderate

Trading 27.4% below fair value

Current Price $28.01

Bear Case $24.31 13.2% downside ($24.31 - $28.01) / $28.01 = -13.2% ROTCE 9.3% → 1.13x TBV

Fair Value $38.58 37.7% upside ($38.58 - $28.01) / $28.01 = 37.7% ROTCE 12.3% → 1.79x TBV

Bull Case $47.14 68.3% upside ($47.14 - $28.01) / $28.01 = 68.3% ROTCE 14.2% → 2.19x TBV

Adjust Assumptions

Return on Tangible Equity

12.3%

Cost of Equity

8.7%

Key Value Driver

ROTCE (12.3%) vs. cost of equity (8.7%)

Implied Market Multiple 1.21x

Plain-Language Summary

Our base-case estimate uses P/Tangible Book × ROE Quality. We then blend that result with the average analyst price target of $29.71 from 20 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $38.58 per share.

Warnings

⚠ Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.

⚠ Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.

ℹ Dividend-based valuation: $19.06 (54% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

ℹ Wall Street's average price target is $29.71 (from 20 analysts). Our estimate is 40% above the consensus -- consider that gap carefully.

Key Risks

Book value quality matters as much as level — check loan loss reserves
Interest rate sensitivity creates non-linear earnings surprises
Insurance reserving is actuarial, not financial — errors emerge slowly