Associated Banc-Corp Declares Quarterly Dividend of $0.22 (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.22 per share by the bank on Monday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Associated Banc has increased its dividend payment by an average of 5.7% annually over the last three years and has raised its dividend every year for the last 12 years. Associated Banc has a dividend payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 37.9%.

Associated Banc Price Performance

Associated Banc stock opened at $22.88 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. Associated Banc has a one year low of $15.16 and a one year high of $24.21. The firm has a market capitalization of $3.45 billion, a P/E ratio of 23.11, a PEG ratio of 2.50 and a beta of 0.95. The business has a fifty day moving average price of $21.67 and a 200-day moving average price of $21.23.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The company had revenue of $321.75 million during the quarter, compared to analysts’ expectations of $330.69 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. Associated Banc’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Associated Banc will post 2.07 EPS for the current year.

Insider Activity at Associated Banc

In other news, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total transaction of $546,564.26. Following the transaction, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the 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 completion of the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Randall J. Erickson sold 23,774 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares in the company, valued at approximately $2,958,353.20. The disclosure for this sale can be found here. 1.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ASB has been the topic of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $24.00 price target on shares of Associated Banc in a report on Tuesday, July 30th. Barclays lowered their target price on shares of Associated Banc from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group cut their price target on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Piper Sandler raised their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Robert W. Baird dropped their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.67.

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.