Associated Banc-Corp (NYSE:ASB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Associated Banc-Corp (NYSE:ASB) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $31.00.

ASB has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Associated Banc from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Stephens upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $30.00 to $29.00 in a research report on Friday, March 27th. Robert W. Baird boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th.

Insider Activity at Associated Banc

In related news, EVP Dennis Deloye sold 14,299 shares of Associated Banc stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total transaction of $404,089.74. Following the sale, the executive vice president directly owned 21,385 shares of the company’s stock, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total transaction of $144,100.00. Following the sale, the executive vice president directly owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,299 shares of company stock valued at $801,760. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of Associated Banc

Institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC acquired a new position in Associated Banc during the 2nd quarter worth about $2,048,000. Gradient Investments LLC increased its stake in shares of Associated Banc by 11.5% in the second quarter. Gradient Investments LLC now owns 77,334 shares of the bank’s stock valued at $2,380,000 after buying an additional 8,003 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Associated Banc in the second quarter valued at about $30,927,000. Prodigy Asset Management LLC bought a new position in shares of Associated Banc during the second quarter worth about $315,000. Finally, GAMMA Investing LLC raised its position in shares of Associated Banc by 60.9% during the second quarter. GAMMA Investing LLC now owns 13,775 shares of the bank’s stock worth $424,000 after acquiring an additional 5,215 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Down 0.2%

Associated Banc stock opened at $31.27 on Monday. Associated Banc has a fifty-two week low of $23.63 and a fifty-two week high of $31.83. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $5.90 billion, a PE ratio of 10.86, a P/E/G ratio of 1.16 and a beta of 0.76. The company’s 50-day moving average is $29.14 and its 200-day moving average is $27.66.

Associated Banc (NYSE:ASB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.The firm had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. Sell-side analysts anticipate that Associated Banc will post 2.91 earnings per share for the current year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.96 annualized dividend and a yield of 3.1%. Associated Banc’s dividend payout ratio (DPR) is 33.33%.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.