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

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $23.78.

ASB has been the topic of several analyst reports. Stephens reissued an “equal weight” rating and issued a $24.00 target price on shares of Associated Banc in a report on Tuesday, July 30th. Robert W. Baird reduced their price target on Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Jefferies Financial Group reduced their price target on Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Piper Sandler upped their price target on Associated Banc from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on Associated Banc from $23.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th.

Associated Banc Trading Up 0.9 %

Shares of ASB stock opened at $22.09 on Tuesday. The stock has a market capitalization of $3.33 billion, a PE ratio of 22.31, a P/E/G ratio of 1.66 and a beta of 0.93. Associated Banc has a 1-year low of $15.16 and a 1-year high of $24.21. The business has a 50-day moving average of $21.42 and a 200 day moving average of $21.37. 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 (NYSE:ASB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $321.75 million during the quarter, compared to analyst estimates of $330.69 million. Associated Banc had a return on equity of 8.14% and a net margin of 7.93%. Associated Banc’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 EPS. As a group, sell-side analysts anticipate that Associated Banc will post 2.06 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors 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 yield of 3.98%. Associated Banc’s payout ratio is presently 88.89%.

Insider Buying and Selling

In other Associated Banc news, Director Lith Karen Van sold 8,061 shares of the stock in a transaction on Thursday, September 12th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Associated Banc news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at approximately $2,269,730.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lith Karen Van sold 8,061 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now directly owns 54,114 shares in the company, valued at $1,108,254.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,835 shares of company stock valued at $757,214. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ASB. Mairs & Power Inc. raised its holdings in Associated Banc by 13.8% in the 4th quarter. Mairs & Power Inc. now owns 399,310 shares of the bank’s stock worth $8,541,000 after purchasing an additional 48,432 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of Associated Banc during the 4th quarter valued at approximately $28,000. Vanguard Group Inc. grew its stake in Associated Banc by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after acquiring an additional 184,813 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Associated Banc by 37.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,938 shares of the bank’s stock valued at $170,000 after purchasing an additional 2,156 shares during the period. Finally, Steph & Co. increased its stake in shares of Associated Banc by 470.2% during the first quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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.