Associated Banc-Corp (NYSE:ASB) Receives $30.30 Average PT from Brokerages

Associated Banc-Corp (NYSE:ASB) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $30.70.

A number of research firms have recently weighed in on ASB. Barclays upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $33.00 in a report on Tuesday, April 7th. Raymond James Financial boosted their price objective on shares of Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $30.00 to $29.00 in a research note on Friday, March 27th. Truist Financial lifted their price target on shares of Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Finally, Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th.

Associated Banc Stock Up 1.3%

ASB stock opened at $31.16 on Thursday. The firm has a market cap of $5.88 billion, a PE ratio of 10.82, a PEG ratio of 1.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $28.52 and its 200-day moving average price is $27.30. Associated Banc has a one year low of $23.63 and a one year high of $31.36.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $387.21 million during the quarter, compared to analyst estimates of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same period in the prior year, the business posted $0.59 earnings per share. On average, equities research analysts anticipate that Associated Banc will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. Associated Banc’s payout ratio is presently 33.33%.

Insider Transactions at Associated Banc

In other news, EVP Matthew R. Braeger sold 5,000 shares of Associated Banc stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value of $140,850.00. Following the completion of the sale, the executive vice president directly owned 11,777 shares of the company’s stock, valued at approximately $331,758.09. The trade was a 29.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the sale, the executive vice president owned 118,156 shares in the company, valued at $3,405,255.92. This represents a 4.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,299 shares of company stock valued at $801,760 over the last three months. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its position in Associated Banc by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after acquiring an additional 394 shares in the last quarter. US Bancorp DE boosted its stake in shares of Associated Banc by 0.5% in the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock valued at $2,074,000 after purchasing an additional 415 shares during the period. LPL Financial LLC boosted its stake in shares of Associated Banc by 2.3% in the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after purchasing an additional 426 shares during the period. Tidal Investments LLC grew its holdings in shares of Associated Banc by 2.0% in the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after purchasing an additional 549 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Associated Banc by 1.8% in the fourth quarter. Quadrant Capital Group LLC now owns 34,801 shares of the bank’s stock valued at $896,000 after purchasing an additional 619 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

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.