Research Analysts’ Weekly Ratings Updates for Associated Banc (ASB)

Associated Banc (NYSE: ASB) recently received a number of ratings updates from brokerages and research firms:

• 12/5/2024 – Associated Banc had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $28.00 price target on the stock.
• 12/5/2024 – Associated Banc had its price target raised by analysts at Piper Sandler from $26.00 to $28.00. They now have a “neutral” rating on the stock.
• 12/5/2024 – Associated Banc had its price target raised by analysts at Barclays PLC from $24.00 to $27.00. They now have an “equal weight” rating on the stock.
• 12/4/2024 – Associated Banc had its price target raised by analysts at Keefe, Bruyette & Woods from $25.00 to $28.00. They now have a “market perform” rating on the stock.
• 12/3/2024 – Associated Banc had its price target raised by analysts at Wells Fargo & Company from $24.00 to $26.00. They now have an “equal weight” rating on the stock.
• 10/31/2024 – Associated Banc was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/25/2024 – Associated Banc had its price target raised by analysts at Royal Bank of Canada from $24.00 to $25.00. They now have a “sector perform” rating on the stock.
• 10/25/2024 – Associated Banc had its price target raised by analysts at Barclays PLC from $23.00 to $24.00. They now have an “equal weight” rating on the stock.
• 10/23/2024 – Associated Banc was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Associated Banc Trading Down 1.6 %

ASB opened at $25.85 on Friday. Associated Banc-Corp has a 12 month low of $19.31 and a 12 month high of $28.18. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.88 and a beta of 0.93. 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 business has a fifty day moving average price of $24.79 and a 200 day moving average price of $22.56.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, October 24th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. The firm had revenue of $607.54 million during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.53 EPS. Sell-side analysts expect that Associated Banc-Corp will post 2.13 earnings per share 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.56%. Associated Banc’s dividend payout ratio is currently 76.67%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP David L. Stein sold 29,536 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the sale, 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 can be accessed through this link. Also, EVP John A. Utz sold 19,044 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the sale, the executive vice president now owns 100,204 shares in the company, valued at approximately $2,423,934.76. This trade represents a 15.97 % decrease in their position. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Several hedge funds have recently made changes to their positions in ASB. Quest Partners LLC purchased a new stake in shares of Associated Banc during the second quarter worth about $38,000. Point72 DIFC Ltd purchased a new stake in shares of Associated Banc during the third quarter worth about $39,000. Farther Finance Advisors LLC increased its position in shares of Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after acquiring an additional 1,438 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Associated Banc during the second quarter worth about $93,000. Finally, nVerses Capital LLC purchased a new stake in shares of Associated Banc during the second quarter worth about $140,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

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.