Associated Banc (NYSE:ASB) Hits New 1-Year High at $22.32

Associated Banc-Corp (NYSE:ASB)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.32 and last traded at $22.03, with a volume of 129131 shares. The stock had previously closed at $21.87.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASB. Wells Fargo & Company upped their price target on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a research note on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and set a $23.00 price target on shares of Associated Banc in a report on Friday, April 26th. Raymond James increased their price objective on Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Finally, Barclays lifted their target price on shares of Associated Banc from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.13.

Associated Banc Trading Up 0.5 %

The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $20.89 and a two-hundred day moving average of $19.99.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The business had revenue of $322.84 million during the quarter, compared to analysts’ expectations of $325.00 million. During the same period in the previous year, the company earned $0.66 earnings per share. Associated Banc’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts expect that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, May 31st. Associated Banc’s dividend payout ratio is currently 88.89%.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 14,010 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total transaction of $297,012.00. Following the completion of the transaction, the executive vice president now directly owns 89,880 shares in the company, valued at $1,905,456. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicole M. Kitowski sold 5,019 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total transaction of $106,553.37. Following the transaction, the executive vice president now directly owns 37,993 shares of the company’s stock, valued at approximately $806,591.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,729 shares of company stock worth $561,450. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Associated Banc by 72.2% in the first quarter. BNP Paribas Financial Markets now owns 82,919 shares of the bank’s stock valued at $1,784,000 after purchasing an additional 34,773 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Associated Banc by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after buying an additional 651 shares during the period. Crescent Grove Advisors LLC increased its holdings in Associated Banc by 13.6% in the 1st quarter. Crescent Grove Advisors LLC now owns 113,844 shares of the bank’s stock valued at $2,449,000 after buying an additional 13,624 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Associated Banc by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 42,800 shares of the bank’s stock valued at $921,000 after buying an additional 1,100 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Associated Banc by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 36,478 shares of the bank’s stock worth $785,000 after acquiring an additional 800 shares during the period. 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.