Associated Banc-Corp (NYSE:ASB) Receives $27.00 Average Price Target from Brokerages

Associated Banc-Corp (NYSE:ASB) has received a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $27.00.

A number of equities research analysts have recently issued reports on ASB shares. Royal Bank of Canada increased their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Robert W. Baird lowered their target price on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Barclays raised their price target on shares of Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of Associated Banc in a report on Friday, January 24th. Finally, Wells Fargo & Company increased their price objective on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th.

Associated Banc Trading Down 2.1 %

NYSE:ASB opened at $24.73 on Monday. Associated Banc has a 12 month low of $19.40 and a 12 month high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $24.79 and its 200 day moving average is $23.61. The stock has a market capitalization of $3.74 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Sell-side analysts expect that Associated Banc will post 2.41 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.72%. Associated Banc’s dividend payout ratio (DPR) is presently 116.46%.

Hedge Funds Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Associated Banc by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock worth $112,000 after purchasing an additional 455 shares in the last quarter. US Bancorp DE grew its position in shares of Associated Banc by 0.6% in the 4th quarter. US Bancorp DE now owns 80,294 shares of the bank’s stock worth $1,919,000 after buying an additional 494 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Associated Banc by 2.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,461 shares of the bank’s stock worth $419,000 after acquiring an additional 525 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Associated Banc by 49.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after acquiring an additional 579 shares during the period. Finally, Securian Asset Management Inc. boosted its stake in Associated Banc by 5.4% during the fourth quarter. Securian Asset Management Inc. now owns 12,165 shares of the bank’s stock worth $291,000 after acquiring an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Company Profile

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.