Associated Banc-Corp (NYSE:ASB) Receives $32.00 Consensus Target Price from Brokerages

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.00.

A number of analysts have recently weighed in on ASB shares. Weiss Ratings restated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Barclays increased their target price on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $34.00 target price on shares of Associated Banc in a research note on Wednesday, August 26th. Raymond James Financial lifted their price target on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company upped their price objective on Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th.

Insider Activity at Associated Banc

In other news, EVP Nicole Kitowski sold 7,663 shares of Associated Banc stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.91, for a total value of $236,863.33. Following the sale, the executive vice president directly owned 45,327 shares in the company, valued at $1,401,057.57. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randall Erickson sold 43,561 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $32.04, for a total transaction of $1,395,694.44. Following the transaction, the executive vice president owned 56,091 shares of the company’s stock, valued at $1,797,155.64. The trade was a 43.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 78,833 shares of company stock worth $2,502,103. 0.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Associated Banc

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASB. IAG Wealth Partners LLC raised its holdings in shares of Associated Banc by 4,250.0% in the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,190 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of Associated Banc during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after acquiring an additional 1,047 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Associated Banc during the 3rd quarter worth approximately $51,000. Finally, Global Retirement Partners LLC bought a new stake in Associated Banc in the 4th quarter valued at $56,000. 82.98% of the stock is owned by institutional investors.

Associated Banc Stock Performance

NYSE ASB opened at $30.07 on Tuesday. Associated Banc has a twelve month low of $23.86 and a twelve month high of $32.46. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market cap of $5.68 billion, a P/E ratio of 10.51, a PEG ratio of 1.01 and a beta of 0.76. The company’s 50-day simple moving average is $30.96 and its 200 day simple moving average is $28.70.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. The firm had revenue of $454.54 million during the quarter, compared to analysts’ expectations of $438.01 million. During the same quarter last year, the company earned $0.65 earnings per share. As a group, research analysts forecast that Associated Banc will post 2.94 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Associated Banc’s dividend payout ratio is 33.57%.

Associated Banc Company Profile

Associated Banc-Corp (NYSE: ASB) is a bank holding company headquartered in Green Bay, Wisconsin. Its primary subsidiary, Associated Bank, provides banking and financial services to individuals, families, businesses, and institutions.

The company offers consumer and commercial deposit accounts, lending, mortgage banking, treasury management, investment and wealth management, and other financial services. Its commercial banking activities include business loans, equipment financing, commercial real estate lending, and specialized services for middle-market companies and other organizations.

Associated Bank primarily serves customers across Wisconsin, Illinois, and Minnesota through its branch network and digital banking platforms.