Associated Banc-Corp (NYSE:ASB) Given Consensus Rating of “Hold” by Brokerages

Shares of Associated Banc-Corp (NYSE:ASB) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.63.

A number of equities analysts have recently issued reports on the company. Raymond James increased 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. 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 began coverage on Associated Banc in a report on Friday, March 8th. They set an “equal weight” rating and a $22.00 price target for the company. Wells Fargo & Company raised their price target on Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th.

Associated Banc Trading Down 0.2 %

Shares of ASB opened at $20.27 on Tuesday. Associated Banc has a 1 year low of $14.47 and a 1 year high of $22.16. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $20.71 and a 200-day simple moving average of $19.57. The stock has a market cap of $3.05 billion, a PE ratio of 17.94, a PEG ratio of 1.19 and a beta of 1.00.

Associated Banc (NYSE:ASB) last issued its 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 business had revenue of $322.22 million during the quarter, compared to analysts’ expectations of $325.89 million. On average, sell-side analysts predict that Associated Banc will post 2.13 EPS for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 dividend on an annualized basis and a yield of 4.34%. Associated Banc’s payout ratio is 77.88%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares in the company, valued at approximately $1,905,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the firm’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 completion of the transaction, the director now owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,710 shares of company stock worth $454,897. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Steph & Co. boosted its position in shares of Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after purchasing an additional 964 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Associated Banc by 37.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,938 shares of the bank’s stock worth $170,000 after acquiring an additional 2,156 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Associated Banc by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock worth $334,522,000 after acquiring an additional 184,813 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Associated Banc during the fourth quarter worth about $28,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Associated Banc by 3.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 163,215 shares of the bank’s stock worth $3,492,000 after acquiring an additional 5,494 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

About Associated Banc

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.