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

Associated Banc-Corp (NYSE:ASB) has been assigned an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $27.11.

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price target on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Raymond James cut their price target on Associated Banc from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday. Barclays lifted their price target on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Piper Sandler lifted their price target on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th.

Associated Banc Stock Performance

NYSE ASB opened at $21.07 on Friday. The stock has a 50-day simple moving average of $24.48 and a two-hundred day simple moving average of $24.00. The firm has a market capitalization of $3.50 billion, a P/E ratio of 26.66, a PEG ratio of 1.52 and a beta of 0.90. Associated Banc has a fifty-two week low of $19.76 and a fifty-two week high of $28.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Associated Banc will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.37%. The ex-dividend date is Monday, March 3rd. Associated Banc’s payout ratio is 116.46%.

Insider Buying and Selling

In other news, Director Eileen A. Kamerick sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Williams sold 2,830 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the transaction, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. This represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP raised its position in shares of Associated Banc by 154.3% during the 4th quarter. Quarry LP now owns 1,073 shares of the bank’s stock valued at $26,000 after buying an additional 651 shares during the period. Covestor Ltd raised its position in shares of Associated Banc by 221.0% during the 4th quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock valued at $36,000 after buying an additional 1,032 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after buying an additional 579 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc during the 3rd quarter valued at approximately $39,000. Finally, Crews Bank & Trust purchased a new stake in shares of Associated Banc during the 4th quarter valued at approximately $56,000. 82.98% of the stock is currently owned by institutional investors and hedge funds.

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.