Associated Banc-Corp (NYSE:ASB) Given Consensus Recommendation of “Hold” by Analysts

Associated Banc-Corp (NYSE:ASB) has been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $23.78.

ASB has been the topic of several research reports. Piper Sandler lifted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Baird R W lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their price objective on shares of Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Barclays boosted their target price on shares of Associated Banc from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group decreased their target price on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd.

Insider Activity at Associated Banc

In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the transaction, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the sale, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares in the company, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,835 shares of company stock valued at $757,214 in the last ninety days. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

A number of institutional investors have recently modified their holdings of ASB. Steph & Co. increased its position in Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after purchasing an additional 964 shares during the last quarter. Bessemer Group Inc. increased its position in Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after purchasing an additional 907 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Associated Banc in the fourth quarter worth $28,000. Quest Partners LLC acquired a new stake in shares of Associated Banc in the second quarter worth $38,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Associated Banc in the first quarter worth $74,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Stock Up 0.9 %

Shares of NYSE:ASB opened at $21.21 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc has a 12 month low of $15.16 and a 12 month high of $24.21. The company has a 50-day moving average price of $21.46 and a 200 day moving average price of $21.35. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.36 and a beta of 0.93.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The business had revenue of $321.75 million during the quarter, compared to the consensus estimate of $330.69 million. During the same quarter last year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Associated Banc will post 2.07 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.15%. Associated Banc’s payout ratio is 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.