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

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.00.

A number of equities analysts have issued reports on the stock. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Associated Banc in a report on Friday, January 24th. Piper Sandler lifted their price objective on shares of Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Robert W. Baird cut their price objective on shares of Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Finally, Barclays boosted their price target on shares of Associated Banc from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th.

Insider Activity at Associated Banc

In other news, Director John B. Williams sold 2,830 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the sale, the director now directly owns 66,915 shares in the company, valued at $1,678,897.35. This represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the sale, the director now owns 49,495 shares in the company, valued at approximately $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP grew its holdings in shares of Associated Banc by 154.3% during the fourth quarter. Quarry LP now owns 1,073 shares of the bank’s stock worth $26,000 after purchasing an additional 651 shares in the last quarter. Covestor Ltd grew its holdings in shares of Associated Banc by 221.0% during the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock worth $36,000 after purchasing an additional 1,032 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Associated Banc during the third quarter worth about $39,000. Smartleaf Asset Management LLC grew its holdings in shares of Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock worth $42,000 after purchasing an additional 579 shares in the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Associated Banc during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Down 1.4 %

Shares of NYSE:ASB opened at $23.02 on Friday. The business’s 50 day moving average is $24.64 and its 200 day moving average is $23.97. Associated Banc has a 12-month low of $19.76 and a 12-month high of $28.18. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.52 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. On average, sell-side analysts forecast that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Monday, March 3rd. Associated Banc’s dividend payout ratio (DPR) is currently 116.46%.

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.