Associated Banc (NYSE:ASB) Sees Unusually-High Trading Volume - What's Next?

Shares of Associated Banc-Corp (NYSE:ASB - Get Free Report) saw strong trading volume on Friday . 2,245,272 shares changed hands during mid-day trading, an increase of 65% from the previous session's volume of 1,363,390 shares.The stock last traded at $26.48 and had previously closed at $26.67.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ASB shares. Stephens reaffirmed an "equal weight" rating and set a $24.00 price objective on shares of Associated Banc in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Associated Banc from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Friday, July 26th. Robert W. Baird decreased their target price on Associated Banc from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, July 26th. Finally, Barclays raised their price target on Associated Banc from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Associated Banc currently has an average rating of "Hold" and an average price target of $23.89.

Associated Banc Price Performance

The company has a market cap of $4.02 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 0.88. The firm's fifty day moving average is $22.82 and its two-hundred day moving average is $21.96.

Associated Banc (NYSE:ASB - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. During the same period in the prior year, the company posted $0.53 EPS. As a group, analysts anticipate that Associated Banc-Corp will post 2.12 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Associated Banc's previous quarterly dividend of $0.22. Associated Banc's dividend payout ratio is 73.33%.

Insider Transactions at Associated Banc

In related news, EVP John A. Utz sold 2,000 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total value of $45,560.00. Following the sale, the executive vice president now owns 99,637 shares in the company, valued at approximately $2,269,730.86. The trade was a 1.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David L. Stein sold 29,536 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the transaction, the executive vice president now owns 81,021 shares of the company's stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,641 shares of company stock valued at $1,481,496. 1.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in Associated Banc in the 1st quarter worth about $866,000. M&G Plc lifted its position in shares of Associated Banc by 12.4% during the second quarter. M&G Plc now owns 411,761 shares of the bank's stock worth $8,647,000 after purchasing an additional 45,542 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Associated Banc by 71.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank's stock worth $1,591,000 after buying an additional 30,732 shares during the period. Bayesian Capital Management LP bought a new stake in Associated Banc during the 1st quarter valued at about $609,000. Finally, SG Americas Securities LLC purchased a new stake in Associated Banc in the 1st quarter valued at about $523,000. 82.98% of the stock is owned by institutional investors.

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.