Associated Banc-Corp (NYSE:ASB) Given Average Recommendation of “Hold” by Analysts

Shares of Associated Banc-Corp (NYSE:ASBGet Free Report) have earned an average rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.00.

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $28.00 price target on shares of Associated Banc in a research report on Thursday, December 5th. Piper Sandler lifted their target price on Associated Banc from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price target on Associated Banc from $25.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

View Our Latest Research Report on Associated Banc

Associated Banc Trading Up 1.2 %

Shares of ASB stock opened at $23.99 on Friday. The company has a 50-day moving average of $25.19 and a two-hundred day moving average of $22.71. The firm has a market cap of $3.63 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. Associated Banc has a 1-year low of $19.40 and a 1-year high of $28.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.88 and a quick ratio of 0.88.

Associated Banc (NYSE:ASBGet Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million during the quarter, compared to analysts’ expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same quarter last year, the company posted $0.53 EPS. On average, analysts predict that Associated Banc will post 2.13 EPS for the current year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Associated Banc’s previous quarterly dividend of $0.22. Associated Banc’s dividend payout ratio is currently 76.67%.

Insider Transactions at Associated Banc

In related news, EVP David L. Stein sold 29,536 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at $2,222,406.03. This represents a 26.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John A. Utz sold 19,044 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total transaction of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. The trade was a 15.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASB. Nisa Investment Advisors LLC raised its position in Associated Banc by 54.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 34,729 shares of the bank’s stock worth $735,000 after buying an additional 12,296 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in Associated Banc by 1.4% in the second quarter. Miller Howard Investments Inc. NY now owns 57,831 shares of the bank’s stock valued at $1,223,000 after purchasing an additional 786 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Associated Banc by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,497 shares of the bank’s stock valued at $687,000 after purchasing an additional 4,003 shares in the last quarter. Rothschild Investment LLC acquired a new position in Associated Banc during the 2nd quarter worth approximately $384,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Associated Banc by 4.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 32,830 shares of the bank’s stock valued at $694,000 after buying an additional 1,548 shares during the period. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Company Profile

(Get Free Report

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.

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Analyst Recommendations for Associated Banc (NYSE:ASB)

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