Associated Banc-Corp (NYSE:ASB) Receives $22.88 Consensus PT from Brokerages

Shares of Associated Banc-Corp (NYSE:ASB) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.88.

Several research firms have weighed in on ASB. Stephens reaffirmed an “equal weight” rating and issued a $23.00 price target on shares of Associated Banc in a report on Friday, April 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Barclays decreased their price objective on Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Wells Fargo & Company raised their price objective on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Tuesday.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Nicole M. Kitowski sold 5,019 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the sale, the executive vice president now owns 37,993 shares of the company’s stock, valued at $806,591.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nicole M. Kitowski sold 5,019 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at $806,591.39. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John A. Utz sold 2,500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.18, for a total value of $55,450.00. Following the transaction, the executive vice president now owns 100,922 shares of the company’s stock, valued at $2,238,449.96. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Institutional Trading of Associated Banc

A number of large investors have recently made changes to their positions in ASB. Janney Montgomery Scott LLC bought a new position in Associated Banc in the third quarter worth about $224,000. UBS Group AG boosted its position in Associated Banc by 246.3% in the 3rd quarter. UBS Group AG now owns 123,979 shares of the bank’s stock worth $2,121,000 after purchasing an additional 88,176 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Associated Banc by 475.8% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 69,283 shares of the bank’s stock worth $1,185,000 after purchasing an additional 57,251 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Associated Banc by 2,344.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank’s stock worth $12,134,000 after purchasing an additional 680,161 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Associated Banc by 92.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank’s stock valued at $24,524,000 after buying an additional 687,552 shares in the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Up 0.2 %

Shares of NYSE ASB opened at $20.87 on Friday. Associated Banc has a 52 week low of $15.16 and a 52 week high of $22.77. The business has a 50-day simple moving average of $21.15 and a two-hundred day simple moving average of $21.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.15 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.20 and a beta of 0.95.

Associated Banc (NYSE:ASB) last issued its earnings results on Tuesday, April 30th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The business had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. Research analysts anticipate that Associated Banc will post 2.11 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Monday, June 3rd. Associated Banc’s dividend payout ratio (DPR) is presently 88.89%.

About Associated Banc

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.