Associated Banc Corp (ASB) Receives $27.83 Consensus PT from Analysts
Shares of Associated Banc Corp (NYSE:ASB) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.83.
Several research firms have commented on ASB. Zacks Investment Research reissued a “hold” rating on shares of Associated Banc in a research report on Monday, November 12th. ValuEngine downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Robert W. Baird decreased their target price on shares of Associated Banc from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Sandler O’Neill downgraded shares of Associated Banc from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Friday, October 19th. Finally, Wells Fargo & Co set a $27.00 target price on shares of Associated Banc and gave the stock a “hold” rating in a research report on Tuesday, October 2nd.
ASB stock traded down $0.30 during trading hours on Monday, hitting $21.31. The company’s stock had a trading volume of 135,757 shares, compared to its average volume of 1,074,608. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.55 and a beta of 0.99. Associated Banc has a 12 month low of $21.48 and a 12 month high of $29.02.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from Associated Banc’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, November 30th. Associated Banc’s payout ratio is presently 44.74%.
In other news, CFO Moral-Niles Christopher Del acquired 2,000 shares of Associated Banc stock in a transaction dated Wednesday, September 19th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $50,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip B. Flynn acquired 115,000 shares of Associated Banc stock in a transaction dated Wednesday, September 19th. The stock was purchased at an average price of $25.00 per share, with a total value of $2,875,000.00. The disclosure for this purchase can be found here. Insiders bought 121,000 shares of company stock valued at $3,025,000 over the last 90 days. 2.13% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Associated Banc by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 15,465,462 shares of the bank’s stock valued at $402,102,000 after purchasing an additional 304,733 shares during the last quarter. Teachers Advisors LLC raised its stake in Associated Banc by 4.6% during the 3rd quarter. Teachers Advisors LLC now owns 356,313 shares of the bank’s stock valued at $9,264,000 after purchasing an additional 15,680 shares during the last quarter. AQR Capital Management LLC raised its stake in Associated Banc by 133.8% during the 3rd quarter. AQR Capital Management LLC now owns 399,370 shares of the bank’s stock valued at $10,384,000 after purchasing an additional 228,578 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Associated Banc by 5.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 40,731 shares of the bank’s stock valued at $1,059,000 after purchasing an additional 2,205 shares during the last quarter. Finally, Man Group plc acquired a new position in Associated Banc during the 3rd quarter valued at $721,000. Institutional investors and hedge funds own 76.56% of the company’s stock.
Associated Banc Company Profile
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses primarily in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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