Associated Banc (NYSE:ASB) Reaches New 52-Week Low – Should You Sell?

Associated Banc-Corp (NYSE:ASB)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $19.20 and last traded at $19.02, with a volume of 4503 shares changing hands. The stock had previously closed at $20.03.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASB. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Associated Banc in a research report on Tuesday, March 25th. Wells Fargo & Company raised their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. StockNews.com downgraded shares of Associated Banc from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.11.

Associated Banc Price Performance

The firm has a market cap of $3.21 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The stock has a 50 day simple moving average of $23.62 and a two-hundred day simple moving average of $24.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. Sell-side analysts expect that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio is presently 116.46%.

Insider Transactions at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Williams sold 2,830 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the transaction, the director now directly owns 66,915 shares in the company, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of Associated Banc

Institutional investors and hedge funds have recently bought and sold shares of the business. Hancock Whitney Corp boosted its position in shares of Associated Banc by 0.7% during the 4th quarter. Hancock Whitney Corp now owns 58,001 shares of the bank’s stock worth $1,386,000 after acquiring an additional 401 shares in the last quarter. NewEdge Advisors LLC raised its position in Associated Banc by 13.1% in the fourth quarter. NewEdge Advisors LLC now owns 3,518 shares of the bank’s stock worth $84,000 after acquiring an additional 408 shares in the last quarter. GAMMA Investing LLC increased its holdings in Associated Banc by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 4,704 shares of the bank’s stock valued at $112,000 after buying an additional 455 shares in the last quarter. US Bancorp DE boosted its position in Associated Banc by 0.6% during the fourth quarter. US Bancorp DE now owns 80,294 shares of the bank’s stock worth $1,919,000 after purchasing an additional 494 shares in the last quarter. Finally, Mariner LLC grew its position in shares of Associated Banc by 3.3% in the fourth quarter. Mariner LLC now owns 17,882 shares of the bank’s stock valued at $427,000 after purchasing an additional 566 shares during the last quarter. 82.98% of the stock is currently owned by hedge funds and other 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.