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

Shares of Associated Banc-Corp (NYSE:ASB) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.40.

ASB has been the topic of several research analyst reports. UBS Group reissued a “buy” rating and issued a $28.00 target price on shares of Associated Banc in a research report on Tuesday, December 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $30.00 price target (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Associated Banc in a research note on Tuesday, December 2nd. Barclays cut their target price on Associated Banc from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Associated Banc in a report on Monday, December 29th.

Associated Banc Stock Up 2.7%

ASB stock opened at $26.45 on Thursday. Associated Banc has a one year low of $18.32 and a one year high of $27.58. The stock has a market capitalization of $4.39 billion, a P/E ratio of 28.13, a PEG ratio of 0.73 and a beta of 0.79. The company has a 50 day moving average price of $25.83 and a two-hundred day moving average price of $25.62. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 0.90.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.The business had revenue of $390.71 million for the quarter, compared to analysts’ expectations of $377.94 million. During the same quarter last year, the firm earned $0.56 earnings per share. As a group, sell-side analysts expect that Associated Banc will post 2.43 EPS for the current year.

Associated Banc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.24 per share. This is a boost from Associated Banc’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.6%. Associated Banc’s dividend payout ratio is currently 102.13%.

Insider Buying and Selling

In other Associated Banc news, EVP John A. Utz sold 2,135 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $26.41, for a total value of $56,385.35. Following the transaction, the executive vice president directly owned 109,842 shares of the company’s stock, valued at $2,900,927.22. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick Edward Ahern sold 30,489 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.70, for a total value of $783,567.30. Following the completion of the sale, the executive vice president owned 24,055 shares of the company’s stock, valued at approximately $618,213.50. This trade represents a 55.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 35,951 shares of company stock worth $925,756. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in Associated Banc during the 1st quarter worth $311,000. Hsbc Holdings PLC increased its position in shares of Associated Banc by 25.7% during the first quarter. Hsbc Holdings PLC now owns 14,146 shares of the bank’s stock worth $318,000 after acquiring an additional 2,892 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Associated Banc by 17.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank’s stock worth $83,000 after acquiring an additional 559 shares in the last quarter. Ieq Capital LLC purchased a new position in Associated Banc in the first quarter valued at about $744,000. Finally, Quarry LP grew its stake in Associated Banc by 77.7% during the 1st quarter. Quarry LP now owns 1,907 shares of the bank’s stock valued at $43,000 after purchasing an additional 834 shares in the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

About Associated Banc

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.