Recent Research Analysts’ Ratings Updates for Associated Banc (ASB)

Associated Banc (NYSE: ASB) has recently received a number of price target changes and ratings updates:

• 10/31/2024 – Associated Banc was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/25/2024 – Associated Banc had its price target raised by analysts at Royal Bank of Canada from $24.00 to $25.00. They now have a “sector perform” rating on the stock.
• 10/25/2024 – Associated Banc had its price target raised by analysts at Barclays PLC from $23.00 to $24.00. They now have an “equal weight” rating on the stock.
• 10/23/2024 – Associated Banc was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/27/2024 – Associated Banc had its price target raised by analysts at Barclays PLC from $22.00 to $23.00. They now have an “equal weight” rating on the stock.

Associated Banc Stock Performance

Shares of ASB traded down $0.16 during midday trading on Friday, reaching $23.58. 532,910 shares of the stock were exchanged, compared to its average volume of 1,335,686. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. Associated Banc-Corp has a twelve month low of $16.19 and a twelve month high of $24.31. The company has a market cap of $3.57 billion, a P/E ratio of 19.65, a PEG ratio of 1.86 and a beta of 0.93. The stock’s 50 day simple moving average is $21.93 and its 200 day simple moving average is $21.53.

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

Associated Banc Increases Dividend

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

Insider Buying and Selling

In related news, EVP John A. Utz sold 2,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was 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 owns 99,637 shares in the company, valued at approximately $2,269,730.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Associated Banc news, EVP John A. Utz sold 19,044 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $24.19, for a total value of $460,674.36. Following the transaction, the executive vice president now directly owns 100,204 shares in the company, valued at $2,423,934.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John A. Utz sold 2,000 shares of the stock in a transaction dated 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 in the company, valued at $2,269,730.86. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,105 shares of company stock valued at $671,324 over the last ninety days. 1.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Associated Banc

Several institutional investors and hedge funds have recently bought and sold shares of ASB. Bessemer Group Inc. increased its stake in shares of Associated Banc by 285.2% during the first quarter. Bessemer Group Inc. now owns 1,225 shares of the bank’s stock valued at $26,000 after buying an additional 907 shares during the period. Quest Partners LLC purchased a new position in Associated Banc in the second quarter worth about $38,000. Farther Finance Advisors LLC raised its holdings in shares of Associated Banc by 82.1% during the third quarter. Farther Finance Advisors LLC now owns 3,190 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,438 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Associated Banc during the first quarter valued at approximately $74,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Associated Banc during the second quarter valued at approximately $93,000. 82.98% of the stock is currently owned by institutional investors.

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.