Brokerages Set Associated Banc-Corp (NYSE:ASB) PT at $32.00

Shares of Associated Banc-Corp (NYSE:ASB) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $32.00.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Associated Banc from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Truist Financial lifted their price target on shares of Associated Banc from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Barclays boosted their target price on Associated Banc from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Associated Banc in a research report on Wednesday, August 26th.

Insider Buying and Selling

In related news, EVP Gregory Warsek sold 16,300 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $32.01, for a total transaction of $521,763.00. Following the completion of the transaction, the executive vice president directly owned 13,809 shares of the company’s stock, valued at approximately $442,026.09. This represents a 54.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick Ahern sold 1,309 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $30.85, for a total transaction of $40,382.65. Following the completion of the transaction, the executive vice president directly owned 43,743 shares of the company’s stock, valued at approximately $1,349,471.55. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,833 shares of company stock worth $2,502,103 in the last three months. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in Associated Banc by 6.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,391 shares of the bank’s stock valued at $720,000 after buying an additional 1,474 shares during the period. Engineers Gate Manager LP raised its holdings in Associated Banc by 147.5% in the second quarter. Engineers Gate Manager LP now owns 116,421 shares of the bank’s stock worth $3,582,000 after purchasing an additional 69,377 shares in the last quarter. Capital Analysts LLC bought a new position in shares of Associated Banc during the 2nd quarter worth approximately $87,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Associated Banc during the 2nd quarter valued at $171,000. Finally, IFP Advisors Inc raised its stake in Associated Banc by 162.0% in the second quarter. IFP Advisors Inc now owns 3,650 shares of the bank’s stock valued at $112,000 after buying an additional 2,257 shares during the last quarter. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Trading Up 0.3%

Shares of Associated Banc stock opened at $30.34 on Tuesday. Associated Banc has a 12-month low of $23.86 and a 12-month high of $32.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.02 and a beta of 0.76. The company’s 50-day moving average price is $30.97 and its 200-day moving average price is $28.69.

Associated Banc (NYSE:ASB) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $454.54 million for the quarter, compared to analysts’ expectations of $438.01 million. Associated Banc had a return on equity of 10.64% and a net margin of 19.66%.During the same quarter last year, the firm posted $0.65 EPS. On average, equities analysts expect that Associated Banc will post 2.94 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s payout ratio is currently 33.57%.

About Associated Banc

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.