Analysts Set Associated Banc-Corp (NYSE:ASB) Price Target at $23.89

Shares of Associated Banc-Corp (NYSE:ASB) have earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.89.

Several brokerages have recently issued reports on ASB. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Barclays raised their target price on Associated Banc from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Baird R W downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th.

Associated Banc Price Performance

ASB stock opened at $23.38 on Friday. The firm has a 50 day simple moving average of $21.99 and a two-hundred day simple moving average of $21.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $3.54 billion, a PE ratio of 19.44, a P/E/G ratio of 1.83 and a beta of 0.91. Associated Banc has a one year low of $16.59 and a one year high of $24.31.

Associated Banc (NYSE:ASB) last issued 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. The business had revenue of $607.54 million during the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, analysts predict that Associated Banc will post 2.08 EPS for the current fiscal year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.23 per share. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.93%. Associated Banc’s dividend payout ratio is 73.33%.

Insider Activity

In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the completion of the sale, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP John A. Utz sold 2,000 shares of the firm’s stock in a transaction 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 in the company, valued at $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 is available at this hyperlink. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the sale, the executive vice president now owns 100,204 shares of the company’s stock, valued at $2,423,934.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,105 shares of company stock valued at $671,324 in the last ninety days. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC purchased a new position in shares of Associated Banc in the 1st quarter worth $866,000. State Board of Administration of Florida Retirement System grew its position in Associated Banc by 71.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank’s stock worth $1,591,000 after acquiring an additional 30,732 shares in the last quarter. M&G Plc increased its stake in Associated Banc by 12.4% during the second quarter. M&G Plc now owns 411,761 shares of the bank’s stock worth $8,647,000 after acquiring an additional 45,542 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in Associated Banc during the first quarter valued at approximately $609,000. Finally, SG Americas Securities LLC bought a new stake in shares of Associated Banc in the 1st quarter valued at approximately $523,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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.