Associated Banc-Corp (NYSE:ASB) Receives $22.63 Consensus PT from Analysts

Associated Banc-Corp (NYSE:ASB) has earned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $22.63.

A number of brokerages recently commented on ASB. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Associated Banc in a report on Tuesday, April 9th. Piper Sandler raised their price target on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Barclays assumed coverage on Associated Banc in a report on Friday, March 8th. They set an “equal weight” rating and a $22.00 price target on the stock. Raymond James lifted their target price on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company lifted their target price on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th.

Associated Banc Stock Performance

ASB stock opened at $20.03 on Tuesday. The company has a market cap of $3.01 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. Associated Banc has a 1 year low of $14.47 and a 1 year high of $22.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.88 and a quick ratio of 0.87. The stock’s fifty day moving average price is $20.71 and its 200-day moving average price is $19.59.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The firm had revenue of $322.22 million for the quarter, compared to the consensus estimate of $325.89 million. On average, equities analysts forecast that Associated Banc will post 2.13 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.22 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.88 annualized dividend and a yield of 4.39%. Associated Banc’s dividend payout ratio is currently 77.88%.

Insider Buying and Selling

In related news, Director Eileen A. Kamerick sold 5,000 shares of Associated Banc stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the transaction, the director now owns 50,126 shares in the company, valued at $1,053,648.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the transaction, the director now owns 50,126 shares in the company, valued at $1,053,648.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the transaction, the director now owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,710 shares of company stock worth $454,897. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Associated Banc by 1.0% during the first quarter. BlackRock Inc. now owns 17,712,813 shares of the bank’s stock worth $403,145,000 after buying an additional 172,329 shares during the period. Vanguard Group Inc. increased its position in shares of Associated Banc by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after acquiring an additional 184,813 shares during the period. Dimensional Fund Advisors LP grew its position in Associated Banc by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank’s stock worth $231,776,000 after purchasing an additional 229,552 shares during the period. State Street Corp grew its position in Associated Banc by 13.6% during the 2nd quarter. State Street Corp now owns 9,356,990 shares of the bank’s stock worth $151,864,000 after purchasing an additional 1,118,108 shares during the period. Finally, Geode Capital Management LLC grew its position in Associated Banc by 3.8% during the 1st quarter. Geode Capital Management LLC now owns 2,866,025 shares of the bank’s stock worth $51,531,000 after purchasing an additional 105,630 shares during the period. 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.