Associated Banc-Corp (ASB) To Go Ex-Dividend on December 1st

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, October 28th. Investors of record on Monday, December 1st will be paid a dividend of 0.24 per share by the bank on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, December 1st. This is a 4.3% increase from Associated Banc’s previous quarterly dividend of $0.23.

Associated Banc has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. Associated Banc has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Associated Banc to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 36.1%.

Associated Banc Price Performance

Shares of Associated Banc stock opened at $26.29 on Friday. The business’s fifty day moving average price is $25.47 and its 200 day moving average price is $25.07. Associated Banc has a twelve month low of $18.32 and a twelve month high of $27.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $4.36 billion, a P/E ratio of 27.97, a PEG ratio of 0.98 and a beta of 0.84.

Associated Banc (NYSE:ASB) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.07. The business had revenue of $390.71 million for the quarter, compared to analyst estimates of $377.94 million. Associated Banc had a return on equity of 9.45% and a net margin of 7.23%.During the same period in the previous year, the company posted $0.56 EPS. As a group, research analysts anticipate that Associated Banc will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

ASB has been the subject of several research reports. Barclays decreased their price objective on shares of Associated Banc from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Raymond James Financial restated an “outperform” rating and set a $30.00 price objective (up previously from $29.00) on shares of Associated Banc in a research note on Monday, October 27th. Royal Bank Of Canada raised their target price on Associated Banc from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Associated Banc in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Associated Banc presently has a consensus rating of “Hold” and an average target price of $28.22.

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.