Associated Banc-Corp (NYSE:ASB) Receives $28.11 Consensus Target Price from Analysts

Associated Banc-Corp (NYSE:ASB) has been assigned an average rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $28.1111.

Several research firms recently commented on ASB. Keefe, Bruyette & Woods upped their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their target price on shares of Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Piper Sandler boosted their target price on shares of Associated Banc from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Truist Financial boosted their target price on shares of Associated Banc from $26.00 to $27.00 and gave the company a “hold” rating in a report on Monday, July 28th. Finally, Barclays boosted their target price on shares of Associated Banc from $30.00 to $32.00 and gave the company a “positive” rating in a report on Wednesday, October 8th.

Associated Banc Price Performance

Associated Banc stock opened at $25.21 on Friday. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.18. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The business’s 50 day simple moving average is $25.93 and its 200 day simple moving average is $24.28. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.01 and a beta of 0.82.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.The business had revenue of $366.98 million for the quarter, compared to the consensus estimate of $362.78 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. Sell-side analysts forecast that Associated Banc will post 2.43 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.92 dividend on an annualized basis and a yield of 3.7%. Associated Banc’s payout ratio is presently 119.48%.

Insider Buying and Selling at Associated Banc

In other Associated Banc news, EVP John A. Utz sold 13,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $27.24, for a total transaction of $354,120.00. Following the sale, the executive vice president owned 111,228 shares of the company’s stock, valued at $3,029,850.72. The trade was a 10.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matthew R. Braeger sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the executive vice president directly owned 13,346 shares in the company, valued at approximately $351,533.64. The trade was a 13.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,342 shares of company stock valued at $494,360 in the last 90 days. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Associated Banc by 2.8% in the first quarter. Principal Financial Group Inc. now owns 379,996 shares of the bank’s stock valued at $8,561,000 after acquiring an additional 10,448 shares during the last quarter. GAMMA Investing LLC increased its stake in Associated Banc by 11.6% in the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock valued at $118,000 after acquiring an additional 547 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Associated Banc by 38.0% in the first quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock valued at $90,000 after acquiring an additional 1,122 shares during the last quarter. HighTower Advisors LLC bought a new position in Associated Banc in the first quarter valued at $311,000. Finally, Moody Aldrich Partners LLC bought a new position in Associated Banc in the first quarter valued at $1,842,000. 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.