Associated Banc-Corp Plans Quarterly Dividend of $0.23 (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB - Get Free Report) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.23 per share by the bank on Monday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Monday, March 3rd.

Associated Banc has increased its dividend by an average of 5.4% per year over the last three years and has increased its dividend every year for the last 14 years. Associated Banc has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Associated Banc to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 35.5%.

Associated Banc Stock Up 0.2 %

Shares of NYSE ASB traded up $0.04 during midday trading on Friday, reaching $25.17. The company's stock had a trading volume of 655,078 shares, compared to its average volume of 1,679,856. Associated Banc has a fifty-two week low of $19.40 and a fifty-two week high of $28.18. The stock has a 50 day simple moving average of $25.09 and a 200-day simple moving average of $23.50. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 1.99 and a beta of 0.94. 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 - Get Free Report) 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 net margin of 5.15% and a return on equity of 8.24%. Equities research analysts predict that Associated Banc will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ASB shares. Robert W. Baird dropped their price objective on Associated Banc from $28.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company increased their price target on shares of Associated Banc from $26.00 to $27.00 and gave the company an "equal weight" rating in a research note on Monday. Stephens reaffirmed an "equal weight" rating and issued a $28.00 target price on shares of Associated Banc in a report on Friday, January 24th. StockNews.com downgraded Associated Banc from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Piper Sandler lifted their target price on Associated Banc from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, Associated Banc currently has a consensus rating of "Hold" and a consensus target price of $27.00.

Insiders Place Their Bets

In related news, EVP David L. Stein sold 29,536 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total value of $810,172.48. Following the completion of the sale, the executive vice president now directly owns 81,021 shares in the company, valued at approximately $2,222,406.03. The trade was a 26.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.45% of the company's stock.

About Associated Banc

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.