Associated Banc (NYSE:ASB) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Associated Banc (NYSE:ASB) in a report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has a $23.00 price target on the bank’s stock.

ASB has been the topic of a number of other research reports. Piper Sandler increased their price target on Associated Banc from $21.50 to $23.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Raymond James boosted their price objective on Associated Banc from $21.00 to $25.00 and gave the company an outperform rating in a research report on Monday, January 29th. Finally, Barclays initiated coverage on Associated Banc in a research report on Friday, March 8th. They issued an equal weight rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $22.13.

Associated Banc Price Performance

Shares of ASB opened at $21.46 on Tuesday. The business’s 50-day moving average is $20.72 and its two-hundred day moving average is $19.47. The company has a market capitalization of $3.23 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 0.88. Associated Banc has a fifty-two week low of $14.47 and a fifty-two week high of $22.16.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The company had revenue of $322.22 million for the quarter, compared to the consensus estimate of $325.89 million. Research analysts predict that Associated Banc will post 2.12 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, February 29th. Associated Banc’s dividend payout ratio is presently 77.88%.

Insider Transactions at Associated Banc

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

Hedge Funds Weigh In On Associated Banc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC boosted its stake in Associated Banc by 3.6% during the fourth quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank’s stock worth $307,000 after buying an additional 494 shares during the last quarter. Bank of Montreal Can boosted its stake in Associated Banc by 2.4% during the second quarter. Bank of Montreal Can now owns 22,085 shares of the bank’s stock worth $420,000 after buying an additional 513 shares during the last quarter. Eaton Vance Management boosted its stake in Associated Banc by 1.1% during the first quarter. Eaton Vance Management now owns 46,341 shares of the bank’s stock worth $1,054,000 after buying an additional 526 shares during the last quarter. Captrust Financial Advisors boosted its stake in Associated Banc by 5.4% during the second quarter. Captrust Financial Advisors now owns 10,458 shares of the bank’s stock worth $191,000 after buying an additional 535 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Associated Banc by 1.4% during the third quarter. Arizona State Retirement System now owns 42,963 shares of the bank’s stock worth $735,000 after buying an additional 587 shares during the last quarter. Institutional investors and hedge funds 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.