Associated Banc-Corp (NYSE:ASB) Receives $28.22 Consensus Price Target from Brokerages

Associated Banc-Corp (NYSE:ASB) has received a consensus recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.2222.

A number of equities research analysts have recently issued reports on ASB shares. Robert W. Baird boosted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Barclays cut their target price on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Piper Sandler raised their target price on Associated Banc from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price target on Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $30.00 price objective (up from $29.00) on shares of Associated Banc in a research note on Monday, October 27th.

Insider Activity at Associated Banc

In other news, EVP John A. Utz sold 13,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $27.24, for a total value of $354,120.00. Following the transaction, the executive vice president directly owned 111,228 shares of the company’s stock, valued at approximately $3,029,850.72. This represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matthew R. Braeger sold 2,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total value of $52,680.00. Following the sale, the executive vice president owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. This represents a 13.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,342 shares of company stock valued at $494,360. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently made changes to their positions in ASB. Hantz Financial Services Inc. grew its stake in shares of Associated Banc by 2,033.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock valued at $29,000 after buying an additional 1,139 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Associated Banc by 46.8% in 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. EverSource Wealth Advisors LLC grew its position in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after acquiring an additional 1,047 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Associated Banc during the 2nd quarter worth $34,000. Finally, Quent Capital LLC bought a new position in shares of Associated Banc during the 3rd quarter valued at $34,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Up 1.8%

Shares of Associated Banc stock opened at $24.55 on Wednesday. Associated Banc has a 12-month low of $18.32 and a 12-month high of $27.97. The firm has a market capitalization of $4.07 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average is $25.54 and its 200-day moving average is $24.95.

Associated Banc (NYSE:ASB) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.The firm had revenue of $390.71 million for the quarter, compared to analysts’ expectations of $377.94 million. During the same quarter last year, the business posted $0.56 EPS. Equities analysts anticipate that Associated Banc will post 2.43 earnings per share for the current year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, December 1st. Associated Banc’s payout ratio is currently 102.13%.

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.