Associated Banc-Corp (NYSE:ASB) Receives $22.13 Consensus PT from Analysts

Associated Banc-Corp (NYSE:ASB) has earned an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.13.

ASB has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Royal Bank of Canada upped their target price on Associated Banc from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods raised their target price on Associated Banc from $20.00 to $21.00 and gave the company a “market perform” rating in a report on Monday, December 4th. Raymond James upped their price target 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 initiated coverage on shares of Associated Banc in a research note on Friday, March 8th. They set an “equal weight” rating and a $22.00 price objective on the stock.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $21.49 on Friday. The business’s fifty day moving average price is $20.81 and its 200 day moving average price is $19.23. Associated Banc has a twelve month low of $14.47 and a twelve month 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 market capitalization of $3.23 billion, a P/E ratio of 19.02, a PEG ratio of 1.21 and a beta of 1.00.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $322.22 million for the quarter, compared to analyst estimates of $325.89 million. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. As a group, research analysts anticipate that Associated Banc will post 2.12 earnings per share for the current year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, February 29th. Associated Banc’s payout ratio is currently 77.88%.

Insider Activity at Associated Banc

In other Associated Banc news, Director John B. Williams sold 2,700 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the transaction, the director now directly owns 62,876 shares of the company’s stock, valued at approximately $1,229,225.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the 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 transaction, the executive vice president now owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the sale, the director now owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The disclosure for this sale can be found here. Insiders have sold 21,710 shares of company stock valued at $454,897 over the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

A number of hedge funds have recently added to or reduced their stakes in ASB. Creekmur Asset Management LLC bought a new position in shares of Associated Banc in the 4th quarter worth about $28,000. First Command Advisory Services Inc. bought a new position in Associated Banc in the third quarter worth about $29,000. Quarry LP boosted its stake in Associated Banc by 319.6% in the first quarter. Quarry LP now owns 2,140 shares of the bank’s stock valued at $38,000 after acquiring an additional 1,630 shares during the period. Point72 Europe London LLP bought a new position in shares of Associated Banc during the fourth quarter valued at approximately $42,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Associated Banc during the 4th quarter worth approximately $47,000. 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.