Associated Banc-Corp (NYSE:ASB) Receives Average Rating of “Hold” from Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have received an average rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.78.

ASB has been the topic of several research analyst reports. Stephens reissued an “equal weight” rating and set a $24.00 price target on shares of Associated Banc in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Associated Banc from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Robert W. Baird decreased their price objective on shares of Associated Banc from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, July 26th.

Insiders Place Their Bets

In other news, EVP John A. Utz sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares of the company’s stock, valued at $2,269,730.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Lith Karen Van sold 8,061 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the sale, the director now owns 54,114 shares of the company’s stock, valued at approximately $1,108,254.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares of the company’s stock, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,835 shares of company stock valued at $757,214. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Steph & Co. grew its stake in shares of Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Associated Banc by 285.2% during the 1st quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Associated Banc during the 4th quarter valued at $28,000. Quest Partners LLC bought a new position in Associated Banc in the 2nd quarter worth $38,000. Finally, Meeder Asset Management Inc. bought a new position in Associated Banc in the 1st quarter worth $74,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Price Performance

Shares of NYSE:ASB opened at $21.21 on Tuesday. The company’s fifty day moving average is $21.46 and its two-hundred day moving average is $21.35. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc has a 12-month low of $15.16 and a 12-month high of $24.21. The company has a market cap of $3.20 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 2.36 and a beta of 0.93.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $321.75 million during the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. Equities analysts expect that Associated Banc will post 2.07 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s payout ratio is currently 88.89%.

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.