Associated Banc-Corp (NYSE:ASB) Receives Consensus Recommendation of “Hold” from Analysts

Associated Banc-Corp (NYSE:ASB) has been given an average rating of “Hold” by the ten analysts that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.89.

ASB has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays raised their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st.

Associated Banc Price Performance

ASB stock opened at $26.69 on Wednesday. The stock has a 50-day moving average price of $23.91 and a two-hundred day moving average price of $22.29. Associated Banc has a 1 year low of $17.51 and a 1 year high of $28.18. The stock has a market cap of $4.04 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period last year, the company earned $0.53 earnings per share. Equities analysts forecast that Associated Banc will post 2.13 EPS for the current fiscal year.

Associated Banc Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. This is a boost from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio (DPR) is presently 73.33%.

Insider Buying and Selling at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the transaction, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lith Karen Van sold 8,061 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total transaction of $165,089.28. Following the sale, the director now owns 54,114 shares of the company’s stock, valued at $1,108,254.72. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,641 shares of company stock worth $1,435,936 over the last 90 days. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in shares of Associated Banc in the first quarter valued at about $866,000. Thrivent Financial for Lutherans grew its position in shares of Associated Banc by 221.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,003 shares of the bank’s stock worth $3,511,000 after purchasing an additional 112,323 shares in the last quarter. M&G Plc increased its holdings in shares of 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 purchasing an additional 45,542 shares during the period. Bayesian Capital Management LP bought a new position in shares of Associated Banc during the first quarter worth approximately $609,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Associated Banc by 54.8% in the second quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank’s stock valued at $735,000 after buying an additional 12,296 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

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.