Analysts Set Associated Banc-Corp (NYSE:ASB) PT at $23.89

Shares of Associated Banc-Corp (NYSE:ASB - Get Free Report) have earned a consensus recommendation of "Hold" from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.89.

A number of research firms have weighed in on ASB. Baird R W cut shares of Associated Banc from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 17th. StockNews.com raised shares of Associated Banc from a "sell" rating to a "hold" rating in a research report on Thursday. Robert W. Baird lowered their price target on shares of Associated Banc from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, July 26th. Barclays boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Finally, Piper Sandler boosted their price target on shares of Associated Banc from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, July 26th.

Associated Banc Stock Performance

ASB traded down $0.18 during midday trading on Friday, reaching $23.56. The company had a trading volume of 1,068,295 shares, compared to its average volume of 1,338,212. 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 stock has a market cap of $3.56 billion, a PE ratio of 19.63, a P/E/G ratio of 1.86 and a beta of 0.93. Associated Banc has a 12-month low of $16.19 and a 12-month high of $24.31. The business has a 50-day moving average price of $21.99 and a two-hundred day moving average price of $21.57.

Associated Banc (NYSE:ASB - Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. The firm had revenue of $607.54 million for the quarter, compared to analysts' expectations of $336.52 million. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. During the same period in the previous year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that Associated Banc will post 2.08 earnings per share for the current fiscal year.

Associated Banc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.23 dividend. This is a positive change from Associated Banc's previous quarterly dividend of $0.22. The ex-dividend date is Monday, December 2nd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.90%. Associated Banc's dividend payout ratio is presently 73.33%.

Insider Transactions at Associated Banc

In other news, EVP John A. Utz sold 2,000 shares of the 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 transaction, the executive vice president now owns 99,637 shares of the company's stock, valued at $2,269,730.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP John A. Utz sold 19,044 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $24.19, for a total value of $460,674.36. Following the completion of the sale, the executive vice president now owns 100,204 shares of the company's stock, valued at approximately $2,423,934.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John A. Utz sold 2,000 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $22.78, for a total transaction of $45,560.00. Following the completion of the sale, the executive vice president now directly owns 99,637 shares of the company's stock, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,105 shares of company stock valued at $671,324 in the last quarter. Insiders own 1.45% of the company's stock.

Institutional Investors Weigh In On Associated Banc

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new stake in Associated Banc in the 1st quarter worth $866,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Associated Banc by 71.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,961 shares of the bank's stock valued at $1,591,000 after purchasing an additional 30,732 shares in the last quarter. M&G Plc boosted its stake in shares of Associated Banc by 12.4% during the 2nd quarter. M&G Plc now owns 411,761 shares of the bank's stock valued at $8,647,000 after purchasing an additional 45,542 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Associated Banc during the 1st quarter valued at about $609,000. Finally, SG Americas Securities LLC bought a new stake in shares of Associated Banc during the 1st quarter valued at about $523,000. 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.