Associated Banc-Corp (NYSE:ASB) Receives Average Rating of “Hold” from Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have been given an average rating of “Hold” by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $22.63.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Barclays assumed coverage on shares of Associated Banc in a research report on Friday, March 8th. They issued an “equal weight” rating and a $22.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Raymond James increased their price target on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Piper Sandler increased their price target on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares of the company’s stock, valued at $1,905,456. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares of the company’s stock, valued at $1,905,456. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the sale, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,710 shares of company stock valued at $454,897. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Hedge funds have recently modified their holdings of the stock. Steph & Co. grew its stake in shares of Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after purchasing an additional 964 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Associated Banc during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Associated Banc during the third quarter valued at approximately $29,000. Quarry LP grew its stake in shares of Associated Banc by 319.6% during the first quarter. Quarry LP now owns 2,140 shares of the bank’s stock valued at $38,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Associated Banc during the fourth quarter valued at approximately $42,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Up 2.5 %

NYSE ASB opened at $20.55 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a 50-day simple moving average of $20.71 and a 200 day simple moving average of $19.64. Associated Banc has a twelve month low of $14.47 and a twelve month high of $22.16. The stock has a market cap of $3.09 billion, a PE ratio of 18.19, a PEG ratio of 1.18 and a beta of 1.00.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. Associated Banc had a net margin of 8.12% and a return on equity of 8.90%. The business had revenue of $322.22 million during the quarter, compared to analysts’ expectations of $325.89 million. On average, research analysts forecast that Associated Banc will post 2.13 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, February 29th. Associated Banc’s payout ratio is 77.88%.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.