Associated Banc (NYSE:ASB) Reaches New 1-Year High – What’s Next?

Shares of Associated Banc-Corp (NYSE:ASB) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.12 and last traded at $30.1670, with a volume of 123188 shares traded. The stock had previously closed at $29.88.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ASB shares. Stephens raised shares of Associated Banc from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $30.00 to $29.00 in a report on Friday, March 27th. Wells Fargo & Company increased their price target on shares of Associated Banc from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Robert W. Baird raised their price objective on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Associated Banc in a research report on Monday, April 27th. Finally, Piper Sandler increased their target price on Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.30.

Associated Banc Trading Up 1.1%

The firm has a 50-day moving average of $28.14 and a two-hundred day moving average of $27.12. The firm has a market capitalization of $5.70 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.70 and a beta of 0.77. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, April 23rd. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $387.21 million during the quarter, compared to the consensus estimate of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, analysts anticipate that Associated Banc-Corp will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, June 1st. Associated Banc’s dividend payout ratio is currently 33.33%.

Insider Activity at Associated Banc

In related news, EVP Matthew R. Braeger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total value of $140,850.00. Following the completion of the transaction, the executive vice president owned 11,777 shares of the company’s stock, valued at $331,758.09. This represents a 29.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total transaction of $112,720.00. Following the completion of the sale, the director owned 67,420 shares in the company, valued at $1,899,895.60. This represents a 5.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,299 shares of company stock valued at $801,760 in the last quarter. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Associated Banc

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Associated Banc by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock valued at $2,198,000 after purchasing an additional 5,531 shares in the last quarter. Millennium Management LLC increased its stake in shares of Associated Banc by 90.4% in the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after buying an additional 136,648 shares during the period. Goldman Sachs Group Inc. raised its holdings in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock valued at $61,927,000 after buying an additional 1,598,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Associated Banc by 13.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock valued at $11,184,000 after buying an additional 60,758 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in Associated Banc during the 2nd quarter worth approximately $328,000. Institutional investors own 82.98% of the company’s stock.

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.