Associated Banc-Corp (NYSE:ASB) Receives $23.67 Consensus PT from Brokerages

Associated Banc-Corp (NYSE:ASB) has received a consensus rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $23.67.

Several research analysts recently weighed in on the stock. Robert W. Baird dropped their target price 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. Royal Bank of Canada upped their price objective on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Stephens reissued an “equal weight” rating and set a $24.00 target price on shares of Associated Banc in a research note on Tuesday, July 30th. StockNews.com upgraded Associated Banc from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group cut their price objective on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd.

Associated Banc Stock Up 3.0 %

NYSE ASB opened at $22.19 on Friday. Associated Banc has a 52 week low of $15.16 and a 52 week high of $24.21. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $3.35 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. The stock’s 50-day moving average price is $21.91 and its 200-day moving average price is $21.30.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $321.75 million for the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. On average, equities research analysts predict that Associated Banc will post 2.07 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 3.97%. Associated Banc’s dividend payout ratio (DPR) is 88.89%.

Insider Activity

In related news, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the sale, the executive vice president now owns 128,680 shares of the company’s stock, valued at $2,958,353.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Randall J. Erickson sold 23,774 shares of Associated Banc stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total value of $546,564.26. Following the completion of the transaction, the executive vice president now owns 128,680 shares in the company, valued at $2,958,353.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the sale, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,835 shares of company stock worth $757,214. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ASB. Steph & Co. raised its stake in shares of Associated Banc by 470.2% in the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after acquiring an additional 964 shares during the period. Bessemer Group Inc. raised its position in Associated Banc by 285.2% in the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock worth $26,000 after purchasing an additional 907 shares during the period. Creekmur Asset Management LLC purchased a new stake in Associated Banc in the 4th quarter worth about $28,000. Quest Partners LLC bought a new stake in Associated Banc in the second quarter worth about $38,000. Finally, Parallel Advisors LLC boosted its position in shares of Associated Banc by 64.0% during the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares during the period. 82.98% of the stock is owned by hedge funds and other institutional investors.

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.