Associated Banc-Corp (NYSE:ASB) Given Consensus Rating of “Hold” by Analysts

Associated Banc-Corp (NYSE:ASB) has received a consensus rating of “Hold” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $23.78.

A number of equities analysts recently issued reports on ASB shares. Jefferies Financial Group decreased their target price on shares of Associated Banc from $24.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods increased their target price on shares of Associated Banc from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Robert W. Baird decreased their target price on shares of 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, Baird R W lowered shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP Randall J. Erickson sold 23,774 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at approximately $2,958,353.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John A. Utz sold 2,000 shares of the stock in a transaction that occurred 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 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Randall J. Erickson sold 23,774 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $22.99, for a total transaction of $546,564.26. Following the completion of the sale, the executive vice president now directly owns 128,680 shares of the company’s stock, valued at $2,958,353.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,835 shares of company stock valued at $757,214. 1.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Associated Banc

A number of hedge funds have recently made changes to their positions in ASB. Vanguard Personalized Indexing Management LLC raised its position in Associated Banc by 4.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,312 shares of the bank’s stock valued at $234,000 after acquiring an additional 525 shares in the last quarter. Arizona State Retirement System grew its holdings in Associated Banc by 1.4% during the second quarter. Arizona State Retirement System now owns 42,068 shares of the bank’s stock valued at $890,000 after purchasing an additional 586 shares during the last quarter. Truist Financial Corp grew its holdings in Associated Banc by 2.4% during the second quarter. Truist Financial Corp now owns 27,082 shares of the bank’s stock valued at $573,000 after purchasing an additional 636 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Associated Banc by 0.3% during the first quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank’s stock valued at $4,018,000 after purchasing an additional 651 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Associated Banc by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 50,680 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 656 shares during the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Up 2.6 %

ASB stock opened at $21.89 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. Associated Banc has a fifty-two week low of $15.16 and a fifty-two week high of $24.21. The firm’s 50-day simple moving average is $21.38 and its 200 day simple moving average is $21.37. The stock has a market cap of $3.30 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $321.75 million for the quarter, compared to analysts’ expectations of $330.69 million. Associated Banc had a net margin of 7.93% and a return on equity of 8.14%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. As a group, sell-side analysts predict that Associated Banc will post 2.06 EPS for the current year.

Associated Banc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Tuesday, September 3rd. Associated Banc’s dividend payout ratio is presently 88.89%.

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.