Associated Banc (NYSE:ASB) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Associated Banc (NYSE:ASB) from a sell rating to a hold rating in a research report report published on Thursday.

A number of other equities analysts also recently issued reports on the company. Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Piper Sandler increased their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Robert W. Baird cut their target price 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. Keefe, Bruyette & Woods increased their target price on Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on Associated Banc from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Associated Banc has a consensus rating of “Hold” and an average price target of $23.89.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $23.73 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day simple moving average is $21.93 and its two-hundred day simple moving average is $21.53. The stock has a market capitalization of $3.59 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. Associated Banc has a one year low of $15.94 and a one year high of $24.31.

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, beating the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. The firm had revenue of $607.54 million for the quarter, compared to analysts’ expectations of $336.52 million. During the same period in the previous year, the firm earned $0.53 earnings per share. Analysts forecast that Associated Banc will post 2.06 EPS for the current year.

Associated Banc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.88%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. Associated Banc’s dividend payout ratio (DPR) is presently 76.67%.

Insiders Place Their Bets

In other news, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the transaction, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP John A. Utz sold 2,000 shares of Associated Banc stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $22.78, for a total transaction of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now directly owns 54,114 shares in the company, valued at approximately $1,108,254.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,105 shares of company stock valued at $671,324. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

A number of large investors have recently added to or reduced their stakes in ASB. Bessemer Group Inc. increased its stake in Associated Banc by 285.2% in the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after acquiring an additional 907 shares during the last quarter. Quest Partners LLC bought a new stake in Associated Banc in the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC boosted its holdings 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 worth $69,000 after purchasing an additional 1,438 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Associated Banc in the 1st quarter worth approximately $74,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Associated Banc in the 2nd quarter worth approximately $93,000. 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.