Associated Banc-Corp (NYSE:ASB) Given Average Rating of “Hold” by Analysts

Shares of Associated Banc-Corp (NYSE:ASB) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $27.11.

ASB has been the subject of several recent analyst reports. StockNews.com cut Associated Banc from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Wells Fargo & Company boosted their target price on Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. Finally, Piper Sandler boosted their target price on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th.

Insider Transactions at Associated Banc

In other news, Director Eileen A. Kamerick sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total value of $172,970.00. Following the completion of the transaction, the director now owns 49,495 shares of the company’s stock, valued at approximately $1,223,021.45. This represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John B. Williams sold 2,830 shares of the stock in a transaction on Friday, February 14th. The stock was 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 of the company’s stock, valued at approximately $1,678,897.35. The trade was a 4.06 % decrease in their position. The disclosure for this sale can be found here. 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. Quarry LP lifted its holdings in shares of Associated Banc by 154.3% in the fourth quarter. Quarry LP now owns 1,073 shares of the bank’s stock valued at $26,000 after buying an additional 651 shares during the period. Covestor Ltd lifted its holdings in shares of Associated Banc by 221.0% in the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank’s stock valued at $36,000 after buying an additional 1,032 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc in the third quarter valued at $39,000. Smartleaf Asset Management LLC lifted its holdings in shares of Associated Banc by 49.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank’s stock valued at $42,000 after buying an additional 579 shares during the period. Finally, Crews Bank & Trust acquired a new stake in shares of Associated Banc in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Trading Down 2.0 %

Associated Banc stock opened at $21.23 on Friday. The stock has a market cap of $3.53 billion, a PE ratio of 26.87, a P/E/G ratio of 1.52 and a beta of 0.90. The stock has a 50-day moving average price of $24.43 and a 200 day moving average price of $23.98. Associated Banc has a 52 week low of $19.76 and a 52 week high of $28.18. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 EPS 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%. Equities research analysts predict that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.23 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.33%. Associated Banc’s payout ratio is 116.46%.

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.