Associated Banc-Corp Declares Quarterly Dividend of $0.24 (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB) announced a quarterly dividend on Tuesday, January 27th. Stockholders of record on Monday, March 2nd will be given a dividend of 0.24 per share by the bank on Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, March 2nd.

Associated Banc has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. Associated Banc has a dividend payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 36.1%.

Associated Banc Stock Up 0.5%

Shares of NYSE ASB traded up $0.15 during trading hours on Wednesday, hitting $26.90. 875,212 shares of the stock were exchanged, compared to its average volume of 2,375,750. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.02. The firm has a fifty day moving average price of $26.32 and a 200-day moving average price of $25.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.81. The company has a market cap of $4.46 billion, a PE ratio of 9.71, a PEG ratio of 0.73 and a beta of 0.79.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The company had revenue of $393.52 million during the quarter, compared to analysts’ expectations of $382.06 million. Associated Banc had a return on equity of 10.25% and a net margin of 19.31%.During the same period last year, the business posted $0.72 earnings per share. On average, sell-side analysts expect that Associated Banc will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ASB. Wall Street Zen raised Associated Banc from a “hold” rating to a “buy” rating in a report on Saturday. Raymond James Financial reiterated an “outperform” rating and issued a $30.00 price target (up previously from $29.00) on shares of Associated Banc in a report on Monday, October 27th. Truist Financial lifted their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Finally, UBS Group reissued a “buy” rating and set a $28.00 target price on shares of Associated Banc in a report on Tuesday, December 2nd. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.20.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.