Associated Banc-Corp (NYSE:ASB) Receives $30.30 Average Price Target from Brokerages

Associated Banc-Corp (NYSE:ASB) has received an average rating of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $30.30.

A number of analysts have recently commented on ASB shares. Robert W. Baird boosted their target price on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Wall Street Zen cut shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Stephens upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $30.00 to $29.00 in a report on Friday, March 27th. Keefe, Bruyette & Woods boosted their target price on shares of Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Truist Financial boosted their target price on shares of Associated Banc from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, April 27th.

Associated Banc Stock Up 0.1%

Shares of Associated Banc stock opened at $27.76 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $27.46 and its two-hundred day simple moving average is $26.81. The company has a market cap of $5.24 billion, a P/E ratio of 9.64, a PEG ratio of 1.60 and a beta of 0.77. Associated Banc has a 12-month low of $22.48 and a 12-month high of $29.51.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The business had revenue of $387.21 million for the quarter, compared to the consensus estimate of $384.20 million. During the same period in the previous year, the firm earned $0.59 EPS. Research analysts anticipate that Associated Banc will post 2.92 EPS for the current year.

Associated Banc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, June 1st. Associated Banc’s payout ratio is 33.33%.

Insiders Place Their Bets

In other news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total transaction of $404,089.74. Following the sale, the executive vice president owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Williams sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $28.18, for a total transaction of $112,720.00. Following the sale, the director owned 67,420 shares in the company, valued at approximately $1,899,895.60. This trade represents a 5.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Associated Banc

Large investors have recently modified their holdings of the stock. IAG Wealth Partners LLC raised its position in shares of Associated Banc by 4,250.0% in the 1st quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after purchasing an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Associated Banc in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC raised its position in shares of Associated Banc by 46.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,279 shares of the bank’s stock worth $33,000 after purchasing an additional 408 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Associated Banc by 345.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after purchasing an additional 1,047 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Associated Banc in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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.