Analysts Set Associated Banc-Corp (NYSE:ASB) Target Price at $30.30

Associated Banc-Corp (NYSE:ASB) has earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $30.30.

A number of brokerages have commented on ASB. Piper Sandler upped their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Raymond James Financial restated an “outperform” rating and issued a $31.00 target price on shares of Associated Banc in a research note on Monday, April 27th. Stephens upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $30.00 to $29.00 in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, February 17th.

Insider Activity at Associated Banc

In other news, EVP Dennis Deloye sold 14,299 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the completion of the sale, the executive vice president owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. This represents a 40.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Williams sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $28.18, for a total transaction of $112,720.00. Following the completion of the sale, the director directly owned 67,420 shares of the company’s stock, valued at $1,899,895.60. The trade was a 5.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Associated Banc

Hedge funds and other institutional investors have recently bought and sold shares of the company. IAG Wealth Partners LLC lifted its position in Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,190 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Associated Banc by 46.8% during the third quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock valued at $33,000 after acquiring an additional 408 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Associated Banc during the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Associated Banc by 345.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new stake in Associated Banc during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Price Performance

Shares of ASB stock opened at $27.75 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $4.60 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.55 and a beta of 0.77. The company’s 50-day simple moving average is $27.41 and its two-hundred day simple moving average is $26.80. Associated Banc has a one year low of $22.48 and a one year high of $29.51.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. During the same period in the prior year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that Associated Banc will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Associated Banc’s dividend payout ratio is presently 33.33%.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.