Brokerages Set Associated Banc-Corp (NYSE:ASB) Target Price at $22.63

Shares of Associated Banc-Corp (NYSE:ASB) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $22.63.

ASB has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Barclays initiated coverage on shares of Associated Banc in a research note on Friday, March 8th. They issued an “equal weight” rating and a $22.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Associated Banc from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Raymond James boosted their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th.

Associated Banc Price Performance

NYSE ASB opened at $20.03 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $3.01 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. The company has a 50 day moving average price of $20.71 and a two-hundred day moving average price of $19.59. Associated Banc has a 12-month low of $14.47 and a 12-month high of $22.16.

Associated Banc (NYSE:ASB) last posted its earnings results on Thursday, January 25th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $322.22 million during the quarter, compared to analysts’ expectations of $325.89 million. Associated Banc had a net margin of 8.12% and a return on equity of 8.90%. As a group, equities analysts predict that Associated Banc will post 2.13 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Thursday, February 29th. Associated Banc’s dividend payout ratio (DPR) is currently 77.88%.

Insider Buying and Selling

In related news, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total transaction of $52,785.00. Following the transaction, the director now owns 62,876 shares of the company’s stock, valued at $1,229,225.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.20, for a total value of $297,012.00. Following the sale, the executive vice president now owns 89,880 shares of the company’s stock, valued at approximately $1,905,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Williams sold 2,700 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the sale, the director now directly owns 62,876 shares in the company, valued at approximately $1,229,225.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,710 shares of company stock valued at $454,897. 1.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Associated Banc by 1.0% in the 1st quarter. BlackRock Inc. now owns 17,712,813 shares of the bank’s stock valued at $403,145,000 after buying an additional 172,329 shares during the period. Vanguard Group Inc. increased its holdings in Associated Banc by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,639,171 shares of the bank’s stock valued at $334,522,000 after buying an additional 184,813 shares during the period. Dimensional Fund Advisors LP increased its holdings in Associated Banc by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,835,562 shares of the bank’s stock valued at $231,776,000 after buying an additional 229,552 shares during the period. State Street Corp increased its holdings in Associated Banc by 13.6% in the 2nd quarter. State Street Corp now owns 9,356,990 shares of the bank’s stock valued at $151,864,000 after buying an additional 1,118,108 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Associated Banc by 3.8% in the 1st quarter. Geode Capital Management LLC now owns 2,866,025 shares of the bank’s stock valued at $51,531,000 after buying an additional 105,630 shares during the period. Institutional investors own 82.98% of the company’s stock.

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.