Brokerages Set Associated Banc-Corp (NYSE:ASB) PT at $29.20

Associated Banc-Corp (NYSE:ASB) has received an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.20.

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded Associated Banc from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on Associated Banc from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, January 23rd. Barclays reduced their price objective on 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. Finally, Piper Sandler lifted their target price on shares of Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd.

Associated Banc Price Performance

Shares of NYSE ASB opened at $28.09 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $27.16 and a 200 day moving average of $26.26. The firm has a market cap of $4.66 billion, a PE ratio of 10.14, a PEG ratio of 1.26 and a beta of 0.81. Associated Banc has a one year low of $18.32 and a one year high of $29.51.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $393.52 million for the quarter, compared to the consensus estimate of $382.06 million. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. During the same period last year, the firm posted $0.72 earnings per share. As a group, research analysts predict that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. Associated Banc’s payout ratio is presently 34.66%.

Associated Banc announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the bank to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Associated Banc

In other news, Director Eileen A. Kamerick sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $28.02, for a total transaction of $184,932.00. Following the transaction, the director directly owned 49,264 shares in the company, valued at $1,380,377.28. The trade was a 11.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Williams sold 2,325 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $28.05, for a total value of $65,216.25. Following the completion of the sale, the director directly owned 70,959 shares of the company’s stock, valued at approximately $1,990,399.95. This represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 59,607 shares of company stock valued at $1,603,545. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in Associated Banc by 2,033.9% during the second quarter. Hantz Financial Services Inc. now owns 1,195 shares of the bank’s stock worth $29,000 after purchasing an additional 1,139 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Associated Banc in the 4th quarter valued at approximately $33,000. Smartleaf Asset Management LLC increased its holdings in shares of Associated Banc by 46.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after buying an additional 408 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Associated Banc during the 3rd quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Associated Banc by 345.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,047 shares during the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.

Associated Banc Company Profile

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.