Associated Banc-Corp (NYSE:ASB) Declares Quarterly Dividend of $0.23

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.23 per share by the bank on Monday, December 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.45%. 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 has raised its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Associated Banc has a dividend payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Associated Banc to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 40.9%.

Associated Banc Trading Down 0.1 %

Shares of NYSE:ASB opened at $26.69 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $23.91 and its 200 day moving average price is $22.29. The company has a market cap of $4.04 billion, a PE ratio of 22.24, a P/E/G ratio of 1.93 and a beta of 0.91. Associated Banc has a fifty-two week low of $17.51 and a fifty-two week high of $28.18.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. Associated Banc had a return on equity of 8.18% and a net margin of 8.15%. The business had revenue of $607.54 million during the quarter, compared to the consensus estimate of $336.52 million. During the same period in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts anticipate that Associated Banc will post 2.13 earnings per share for the current year.

Insider Activity at Associated Banc

In other news, EVP David L. Stein sold 29,536 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the sale, the executive vice president now owns 81,021 shares in the company, valued at approximately $2,222,406.03. This represents a 26.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lith Karen Van sold 8,061 shares of Associated Banc stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.48, for a total value of $165,089.28. Following the completion of the transaction, the director now owns 54,114 shares in the company, valued at $1,108,254.72. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,641 shares of company stock valued at $1,435,936 over the last ninety days. Insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ASB. Barclays lifted their price objective on shares of Associated Banc from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Associated Banc from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective on shares of Associated Banc from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.89.

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.