Associated Banc (NYSE:ASB) Reaches New 1-Year Low – Time to Sell?

Associated Banc-Corp (NYSE:ASB)’s stock price hit a new 52-week low on Friday . The stock traded as low as $19.20 and last traded at $19.02, with a volume of 4503 shares changing hands. The stock had previously closed at $20.03.

Analysts Set New Price Targets

ASB has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $28.00 target price on shares of Associated Banc in a research report on Tuesday, March 25th. StockNews.com lowered Associated Banc from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Robert W. Baird lowered their price target on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Finally, Royal Bank of Canada upped their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.11.

Associated Banc Stock Performance

The company’s 50-day moving average price is $23.73 and its two-hundred day moving average price is $24.02. The company has a market cap of $3.07 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Associated Banc (NYSE:ASB) last issued its earnings results on Thursday, January 23rd. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. As a group, equities analysts forecast that Associated Banc-Corp will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Monday, March 3rd. Associated Banc’s dividend payout ratio is 116.46%.

Insiders Place Their Bets

In other news, Director John B. Williams sold 2,830 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $25.09, for a total value of $71,004.70. Following the completion of the sale, the director now owns 66,915 shares of the company’s stock, valued at $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eileen A. Kamerick sold 7,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $24.71, for a total value of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at $1,223,021.45. The trade was a 12.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC grew its position in Associated Banc by 62.7% during the third quarter. Cerity Partners LLC now owns 19,636 shares of the bank’s stock valued at $423,000 after purchasing an additional 7,567 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Associated Banc by 114.6% in the third quarter. BNP Paribas Financial Markets now owns 96,752 shares of the bank’s stock worth $2,084,000 after buying an additional 51,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Associated Banc by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 328,306 shares of the bank’s stock valued at $7,072,000 after buying an additional 5,386 shares during the last quarter. Centiva Capital LP bought a new position in Associated Banc in the 3rd quarter worth $278,000. Finally, Point72 DIFC Ltd acquired a new position in Associated Banc during the 3rd quarter worth $39,000. 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.