Associated Banc-Corp (NYSE:ASB) Announces $0.23 Quarterly Dividend

Associated Banc-Corp (NYSE:ASB) announced a quarterly dividend on Tuesday, January 28th, RTT News reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.23 per share by the bank on Monday, March 17th. This represents a $0.92 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, March 3rd.

Associated Banc has increased its dividend payment by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 13 years. Associated Banc has a dividend payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 34.6%.

Associated Banc Price Performance

ASB stock opened at $24.83 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a 50 day moving average price of $24.66 and a 200-day moving average price of $23.86. Associated Banc has a 52-week low of $19.76 and a 52-week high of $28.18. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 1.52 and a beta of 0.94.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Equities research analysts forecast that Associated Banc will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the sale, the director now directly owns 66,915 shares in the company, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Piper Sandler boosted their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, Robert W. Baird decreased their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.00.

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.