Associated Banc-Corp (NYSE:ASB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $30.30.

A number of brokerages have issued reports on ASB. Piper Sandler upped their price objective on Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Stephens upgraded Associated Banc from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $30.00 to $29.00 in a research report on Friday, March 27th. Robert W. Baird raised their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Barclays upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $33.00 in a report on Tuesday, April 7th.

Insider Activity

In other news, EVP Dennis Deloye sold 14,299 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $604,340.10. This trade represents a 40.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew R. Braeger sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total transaction of $140,850.00. Following the completion of the sale, the executive vice president owned 11,777 shares of the company’s stock, valued at $331,758.09. This trade represents a 29.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,299 shares of company stock worth $801,760 over the last 90 days. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in Associated Banc during the 1st quarter valued at about $210,000. Parallel Advisors LLC lifted its holdings in Associated Banc by 27.7% during the 1st quarter. Parallel Advisors LLC now owns 3,305 shares of the bank’s stock valued at $85,000 after buying an additional 717 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Associated Banc by 239.0% during the 1st quarter. NewEdge Advisors LLC now owns 4,464 shares of the bank’s stock valued at $115,000 after buying an additional 3,147 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Associated Banc by 27.6% during the 1st quarter. Glenmede Trust Co. NA now owns 13,625 shares of the bank’s stock valued at $352,000 after buying an additional 2,949 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in Associated Banc by 24.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 13,206 shares of the bank’s stock valued at $342,000 after buying an additional 2,577 shares in the last quarter. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Performance

Shares of NYSE:ASB opened at $30.95 on Thursday. Associated Banc has a 52 week low of $23.63 and a 52 week high of $31.34. The stock has a market capitalization of $5.84 billion, a P/E ratio of 10.74, a PEG ratio of 1.81 and a beta of 0.77. The firm has a fifty day simple moving average of $28.41 and a two-hundred day simple moving average of $27.25. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84.

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

Associated Banc Dividend Announcement

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

Associated Banc Company Profile

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.