Associated Banc (NYSE:ASB) Reaches New 12-Month Low - What's Next?

Associated Banc-Corp (NYSE:ASB - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $19.20 and last traded at $19.02, with a volume of 4503 shares changing hands. The stock had previously closed at $20.03.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ASB. StockNews.com downgraded shares of Associated Banc from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Royal Bank of Canada raised their price target on shares of Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, January 24th. Raymond James lowered their price objective on shares of Associated Banc from $30.00 to $28.00 and set an "outperform" rating for the company in a research note on Monday, March 10th. Wells Fargo & Company raised Associated Banc from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $27.00 to $26.00 in a research report on Wednesday. Finally, Stephens reaffirmed an "equal weight" rating and set a $28.00 price target on shares of Associated Banc in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.67.

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Associated Banc Stock Up 6.4 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The business's 50 day moving average is $23.27 and its 200-day moving average is $23.96. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.52 and a beta of 0.78.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Associated Banc had a return on equity of 8.24% and a net margin of 5.15%. On average, sell-side analysts predict that Associated Banc-Corp will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Monday, March 3rd. Associated Banc's dividend payout ratio (DPR) is 116.46%.

Insider Activity at Associated Banc

In related news, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $24.71, for a total transaction of $172,970.00. Following the completion of the sale, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Williams sold 2,830 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $25.09, for a total transaction of $71,004.70. Following the completion of the transaction, the director now owns 66,915 shares in the company, valued at $1,678,897.35. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.45% of the company's stock.

Institutional Trading of Associated Banc

Institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in 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 purchasing an additional 651 shares during the period. Covestor Ltd lifted its position in 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 last quarter. Versant Capital Management Inc lifted its position in Associated Banc by 385.5% in the first quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock valued at $36,000 after buying an additional 1,280 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Associated Banc during the third quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Associated Banc by 49.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock valued at $42,000 after acquiring an additional 579 shares during the period. Hedge funds and other institutional investors 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.