Associated Banc-Corp (NYSE:ASB) Receives Average Recommendation of “Hold” from Analysts

Shares of Associated Banc-Corp (NYSE:ASBGet Free Report) have been given a consensus rating of “Hold” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.13.

ASB has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on Associated Banc from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. 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 report on Friday, April 26th. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a research report on Tuesday, April 9th. Wells Fargo & Company boosted their price objective on Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Stephens restated an “equal weight” rating and issued a $23.00 target price on shares of Associated Banc in a research report on Friday, April 26th.

Check Out Our Latest Stock Analysis on ASB

Insider Transactions at Associated Banc

In related news, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the sale, the director now owns 50,126 shares in the company, valued at approximately $1,053,648.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Associated Banc news, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $1,053,648.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicole M. Kitowski sold 5,019 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $21.23, for a total transaction of $106,553.37. Following the completion of the sale, the executive vice president now 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 26,529 shares of company stock worth $564,115. Insiders own 1.45% of the company’s stock.

Institutional Trading of Associated Banc

A number of institutional investors have recently modified their holdings of the business. Steph & Co. increased its stake in Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock valued at $25,000 after purchasing an additional 964 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in Associated Banc in the fourth quarter valued at $28,000. First Command Advisory Services Inc. purchased a new position in shares of Associated Banc in the third quarter valued at $29,000. Parallel Advisors LLC increased its position in shares of Associated Banc by 64.0% in the fourth quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after buying an additional 894 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Associated Banc by 183.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock worth $61,000 after buying an additional 1,850 shares during the last quarter. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

Associated Banc Stock Performance

Shares of ASB stock opened at $22.33 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average of $21.05 and a 200 day moving average of $20.18. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. Associated Banc has a 1 year low of $14.47 and a 1 year high of $22.57.

Associated Banc (NYSE:ASBGet Free Report) last posted its earnings results on Tuesday, April 30th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $322.84 million during the quarter, compared to the consensus estimate of $325.00 million. Associated Banc had a net margin of 6.86% and a return on equity of 8.31%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, research analysts expect that Associated Banc will post 2.11 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.94%. The ex-dividend date is Friday, May 31st. Associated Banc’s dividend payout ratio (DPR) is 88.89%.

Associated Banc Company Profile

(Get Free Report

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.

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Analyst Recommendations for Associated Banc (NYSE:ASB)

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