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

Associated Banc-Corp (NYSE:ASB) has received a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.63.

Several research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price target on shares of Associated Banc in a report on Tuesday, April 9th. Raymond James lifted their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Wells Fargo & Company boosted their price target on shares of Associated Banc from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Barclays began 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 target for the company.

Insiders Place Their Bets

In other Associated Banc news, EVP John A. Utz sold 14,010 shares of Associated Banc stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total transaction of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the transaction, the executive vice president now directly owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen A. Kamerick sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares in the company, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders have sold 21,710 shares of company stock valued at $454,897 in the last three months. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Associated Banc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Steph & Co. boosted its holdings in shares of Associated Banc by 470.2% in the 1st quarter. Steph & Co. now owns 1,169 shares of the bank’s stock worth $25,000 after buying an additional 964 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Associated Banc in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. bought a new stake in Associated Banc in the 3rd quarter valued at about $29,000. Parallel Advisors LLC raised its stake in Associated Banc by 64.0% in the 4th quarter. Parallel Advisors LLC now owns 2,290 shares of the bank’s stock valued at $49,000 after acquiring an additional 894 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Associated Banc by 183.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,860 shares of the bank’s stock valued at $61,000 after acquiring an additional 1,850 shares during the period. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Trading Up 2.1 %

NYSE ASB opened at $20.99 on Tuesday. The firm has a market capitalization of $3.16 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. The business’s 50-day moving average price is $20.72 and its two-hundred day moving average price is $19.69. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62. Associated Banc has a 12 month low of $14.47 and a 12 month high of $22.16.

Associated Banc (NYSE:ASB) last announced its earnings results on Thursday, January 25th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Associated Banc had a return on equity of 8.90% and a net margin of 8.12%. The business had revenue of $322.22 million for the quarter, compared to analysts’ expectations of $325.89 million. On average, analysts expect that Associated Banc will post 2.13 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, February 29th. Associated Banc’s dividend payout ratio is 77.88%.

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.