Analysts Set Associated Banc-Corp (NYSE:ASB) Target Price at $31.00

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

ASB has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Associated Banc from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a research note on Wednesday, June 24th. Barclays upped their price objective on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company increased their target price on Associated Banc from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Finally, Zacks Research cut Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th.

Associated Banc Trading Down 0.9%

Shares of ASB stock opened at $30.69 on Monday. The firm has a market cap of $5.79 billion, a P/E ratio of 10.66, a PEG ratio of 1.14 and a beta of 0.76. Associated Banc has a 1-year low of $23.63 and a 1-year 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’s 50-day simple moving average is $29.33 and its 200-day simple moving average is $27.76.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The business had revenue of $387.21 million for the quarter, compared to analysts’ expectations of $384.20 million. During the same period last year, the company earned $0.59 earnings per share. As a group, equities analysts forecast that Associated Banc will post 2.91 EPS for the current year.

Associated Banc Announces Dividend

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

Insider Transactions at Associated Banc

In related news, Director John B. Williams sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total value of $112,720.00. Following the transaction, the director owned 67,420 shares in the company, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president directly owned 21,385 shares in the company, valued at approximately $604,340.10. This trade represents a 40.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 28,299 shares of company stock valued at $801,760. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Associated Banc by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 984,537 shares of the bank’s stock valued at $25,312,000 after buying an additional 194,307 shares in the last quarter. Associated Banc Corp raised its holdings in shares of Associated Banc by 7.5% during the 4th quarter. Associated Banc Corp now owns 2,631,339 shares of the bank’s stock valued at $67,783,000 after buying an additional 182,623 shares during the period. Vanguard Group Inc. lifted its position in Associated Banc by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 18,538,157 shares of the bank’s stock worth $477,543,000 after acquiring an additional 545,185 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Associated Banc by 159.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 245,801 shares of the bank’s stock worth $6,356,000 after acquiring an additional 150,998 shares during the period. Finally, LSV Asset Management boosted its holdings in Associated Banc by 1.1% in the 4th quarter. LSV Asset Management now owns 3,663,163 shares of the bank’s stock worth $94,363,000 after acquiring an additional 38,900 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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.