Associated Banc-Corp (NYSE:ASB) Stock Has Consensus Price Target of $31.90

Associated Banc-Corp (NYSE:ASB) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.00.

A number of brokerages recently issued reports on ASB. Truist Financial lifted their price target on shares of Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Piper Sandler reiterated a “neutral” rating and set a $34.00 price objective on shares of Associated Banc in a research note on Wednesday, August 26th. Barclays raised their price objective on shares of Associated Banc from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research report on Monday, September 21st. Finally, Wells Fargo & Company reduced their price target on shares of Associated Banc from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th.

Insider Activity at Associated Banc

In other news, EVP Gregory Warsek sold 16,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total value of $521,763.00. Following the completion of the sale, the executive vice president directly owned 13,809 shares in the company, valued at approximately $442,026.09. The trade was a 54.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Derek Meyer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $30.74, for a total value of $307,400.00. Following the sale, the executive vice president directly owned 61,662 shares in the company, valued at approximately $1,895,489.88. This represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,833 shares of company stock worth $2,502,103 over the last quarter. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Associated Banc

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Associated Banc during the 2nd quarter worth $715,927,000. First Trust Advisors LP lifted its stake in Associated Banc by 127.6% in the first quarter. First Trust Advisors LP now owns 5,971,227 shares of the bank’s stock valued at $154,416,000 after buying an additional 3,347,699 shares during the last quarter. Norges Bank bought a new stake in Associated Banc in the fourth quarter valued at $54,660,000. Pzena Investment Management LLC acquired a new position in shares of Associated Banc during the second quarter valued at $61,240,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Associated Banc during the second quarter valued at $48,948,000. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Trading Up 0.2%

Shares of ASB opened at $29.05 on Friday. Associated Banc has a one year low of $23.86 and a one year high of $32.46. The stock has a 50-day moving average price of $30.49 and a 200 day moving average price of $29.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $5.49 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.97 and a beta of 0.80.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.The company had revenue of $454.54 million for the quarter, compared to the consensus estimate of $438.01 million. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts forecast that Associated Banc will post 2.95 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.96 annualized dividend and a yield of 3.3%. Associated Banc’s dividend payout ratio is presently 33.57%.

Associated Banc Company Profile

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

The company offers deposit accounts, residential and commercial real estate lending, business loans, consumer financing, cash-management and treasury services, credit cards, wealth management, investment services and insurance products. Associated also provides specialized financial services for commercial and corporate clients, including relationship banking and capital-market support.

Associated Bank serves customers through branches, offices and digital banking channels across Wisconsin and portions of Illinois and Minnesota.