Associated Banc-Corp (NYSE:ASB) Receives $27.78 Average PT from Brokerages

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $27.7778.

ASB has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods upped their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Barclays upped their price objective on Associated Banc from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Piper Sandler upped their price objective on Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada increased their target price on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 13,000 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $27.24, for a total value of $354,120.00. Following the sale, the executive vice president owned 111,228 shares of the company’s stock, valued at approximately $3,029,850.72. This trade represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Patrick Edward Ahern sold 3,342 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $26.20, for a total value of $87,560.40. Following the completion of the transaction, the executive vice president owned 41,472 shares of the company’s stock, valued at $1,086,566.40. The trade was a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,342 shares of company stock valued at $494,360. 1.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its position in Associated Banc by 2,033.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Associated Banc by 345.5% in the 2nd 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 bought a new position in shares of Associated Banc in the 2nd quarter worth about $34,000. Versant Capital Management Inc raised its position in shares of Associated Banc by 385.5% in the 1st quarter. Versant Capital Management Inc now owns 1,612 shares of the bank’s stock worth $36,000 after acquiring an additional 1,280 shares in the last quarter. Finally, Quarry LP raised its position in shares of Associated Banc by 77.7% in the 1st quarter. Quarry LP now owns 1,907 shares of the bank’s stock worth $43,000 after acquiring an additional 834 shares in the last quarter. 82.98% of the stock is owned by institutional investors.

Associated Banc Price Performance

NYSE:ASB opened at $26.06 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average price is $25.66 and its two-hundred day moving average price is $23.87. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 1.00 and a beta of 0.84. Associated Banc has a 12-month low of $18.32 and a 12-month high of $28.18.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The firm had revenue of $366.98 million for the quarter, compared to analyst estimates of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, analysts anticipate that Associated Banc will post 2.43 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 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.5%. Associated Banc’s dividend payout ratio is currently 119.48%.

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.