Associated Banc-Corp (NYSE:ASB) Receives $26.00 Average Target Price from Brokerages

Associated Banc-Corp (NYSE:ASB) has earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $26.00.

Several research firms recently issued reports on ASB. Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Thursday, December 5th. StockNews.com raised Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Associated Banc from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their price objective on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Barclays boosted their target price on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 19,044 shares of the business’s stock in a transaction on 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 owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction on 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 directly owns 81,021 shares in the company, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quest Partners LLC bought a new position in shares of Associated Banc in the 2nd quarter worth $38,000. Point72 DIFC Ltd bought a new position in Associated Banc during the third quarter worth about $39,000. Farther Finance Advisors LLC grew its position in shares of Associated Banc by 82.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock worth $69,000 after buying an additional 1,438 shares during the period. nVerses Capital LLC bought a new stake in shares of Associated Banc in the 2nd quarter valued at about $140,000. Finally, Meeder Asset Management Inc. raised its position in shares of Associated Banc by 138.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,222 shares of the bank’s stock valued at $174,000 after acquiring an additional 4,775 shares during the period. Institutional investors own 82.98% of the company’s stock.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $24.37 on Friday. The business’s 50 day moving average is $25.27 and its 200-day moving average is $22.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $3.69 billion, a PE ratio of 20.31, a PEG ratio of 1.90 and a beta of 0.93. Associated Banc has a 1-year low of $19.40 and a 1-year high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to analyst estimates of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter in the previous year, the firm posted $0.53 EPS. Sell-side analysts predict that Associated Banc will post 2.13 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were 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 was Monday, December 2nd. This represents a $0.92 annualized dividend and a yield of 3.78%. Associated Banc’s dividend payout ratio is 76.67%.

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.