Associated Banc-Corp (NYSE:ASB) Receives $26.00 Average Target Price from Analysts

Associated Banc-Corp (NYSE:ASB) has earned an average rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $26.00.

A number of brokerages have commented on ASB. Piper Sandler boosted their price objective on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price target on Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $28.00 target price on shares of Associated Banc in a research report on Thursday, December 5th. Finally, Barclays raised their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th.

Associated Banc Stock Up 0.6 %

ASB opened at $25.17 on Thursday. Associated Banc has a 1 year low of $19.40 and a 1 year high of $28.18. The firm has a 50 day moving average price of $25.40 and a 200 day moving average price of $23.25. 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 company has a market cap of $3.81 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.88 and a beta of 0.94.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. The business had revenue of $607.54 million for the quarter, compared to the consensus estimate of $336.52 million. During the same quarter last year, the firm posted $0.53 EPS. Sell-side analysts expect that Associated Banc will post 2.15 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio is 76.67%.

Insider Buying and Selling

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 100,204 shares of the company’s stock, valued at approximately $2,423,934.76. This represents a 15.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David L. Stein sold 29,536 shares of Associated Banc stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Associated Banc during the 2nd quarter worth approximately $38,000. Point72 DIFC Ltd bought a new position in Associated Banc during the 3rd quarter worth $39,000. Sugar Maple Asset Management LLC acquired a new stake in Associated Banc in the fourth quarter worth $64,000. Farther Finance Advisors LLC lifted its stake in Associated Banc by 82.1% in the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after buying an additional 1,438 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Associated Banc by 10.7% during the fourth quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after acquiring an additional 455 shares during the period. Institutional investors own 82.98% of the company’s stock.

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.