Analysts Set Associated Banc-Corp (NYSE:ASB) Target Price at $32.00

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.00.

ASB has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Truist Financial boosted their target price on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Piper Sandler reissued a “neutral” rating and set a $34.00 price target on shares of Associated Banc in a report on Wednesday, August 26th. Finally, Raymond James Financial raised their price target on Associated Banc from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $29.95 on Tuesday. Associated Banc has a fifty-two week low of $23.86 and a fifty-two week high of $32.46. The business has a 50-day simple moving average of $30.95 and a two-hundred day simple moving average of $28.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. During the same quarter last year, the firm posted $0.65 EPS. On average, analysts expect that Associated Banc will post 2.94 earnings per share for the current year.

Associated Banc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Associated Banc’s dividend payout ratio is currently 33.57%.

Insiders Place Their Bets

In other news, EVP Gregory Warsek sold 16,300 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $32.01, for a total value of $521,763.00. Following the transaction, the executive vice president owned 13,809 shares in the company, valued at $442,026.09. This represents a 54.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick Ahern sold 1,309 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $30.85, for a total transaction of $40,382.65. Following the completion of the transaction, the executive vice president directly owned 43,743 shares in the company, valued at approximately $1,349,471.55. The trade was a 2.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 78,833 shares of company stock valued at $2,502,103. 0.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASB. IAG Wealth Partners LLC boosted its position in shares of Associated Banc by 4,250.0% during the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after acquiring an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Associated Banc in the 4th quarter valued at $33,000. Western Wealth Management LLC bought a new stake in Associated Banc in the 1st quarter valued at $59,000. Global Retirement Partners LLC purchased a new stake in Associated Banc in the 2nd quarter worth $68,000. Finally, Nykredit A S bought a new position in shares of Associated Banc during the 2nd quarter valued at about $73,000. 82.98% of the stock is currently owned by institutional investors.

Associated Banc Company Profile

Associated Banc-Corp (NYSE: ASB) is a bank holding company headquartered in Green Bay, Wisconsin. Its primary subsidiary, Associated Bank, provides banking and financial services to individuals, families, businesses, and institutions.

The company offers consumer and commercial deposit accounts, lending, mortgage banking, treasury management, investment and wealth management, and other financial services. Its commercial banking activities include business loans, equipment financing, commercial real estate lending, and specialized services for middle-market companies and other organizations.

Associated Bank primarily serves customers across Wisconsin, Illinois, and Minnesota through its branch network and digital banking platforms.