Brokerages Set Associated Banc-Corp (NYSE:ASB) PT at $23.89

Associated Banc-Corp (NYSE:ASB) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.89.

ASB has been the subject of a number of recent analyst reports. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Stephens reiterated an “equal weight” rating and set a $24.00 target price on shares of Associated Banc in a research report on Tuesday, July 30th. Robert W. Baird decreased their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods upped their target price on Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th.

Insider Buying and Selling

In other news, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the transaction, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the transaction, the executive vice president now owns 100,204 shares in the company, valued at $2,423,934.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,105 shares of company stock worth $671,324. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASB. Bessemer Group Inc. raised its position in shares of Associated Banc by 285.2% in the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Associated Banc in the 2nd quarter valued at $38,000. Farther Finance Advisors LLC boosted its stake in shares of Associated Banc by 82.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Associated Banc during the 1st quarter valued at $74,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Associated Banc during the 2nd quarter valued at $93,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Price Performance

NYSE:ASB opened at $28.15 on Friday. Associated Banc has a one year low of $16.59 and a one year high of $28.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $4.26 billion, a PE ratio of 23.46, a P/E/G ratio of 1.82 and a beta of 0.91. The stock has a 50 day moving average price of $22.15 and a 200 day moving average price of $21.69.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The company had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. During the same quarter last year, the firm earned $0.53 earnings per share. Equities research analysts expect that Associated Banc will post 2.08 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.27%. Associated Banc’s dividend payout ratio is currently 76.67%.

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.