Associated Banc Corp (ASB) Raises Dividend to $0.15 Per Share

Associated Banc Corp (NYSE:ASB) announced a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Stockholders of record on Thursday, March 1st will be paid a dividend of 0.15 per share by the bank on Thursday, March 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from Associated Banc’s previous quarterly dividend of $0.14.

Associated Banc has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Associated Banc to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 29.0%.

Shares of Associated Banc (ASB) traded up $0.35 during mid-day trading on Wednesday, hitting $24.60. The stock had a trading volume of 2,609,368 shares, compared to its average volume of 1,210,000. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. The company has a market cap of $3,720.00, a PE ratio of 17.08, a PEG ratio of 1.99 and a beta of 1.08. Associated Banc has a one year low of $20.95 and a one year high of $26.70.

Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.07). Associated Banc had a net margin of 18.80% and a return on equity of 8.05%. The business had revenue of $272.00 million during the quarter, compared to analyst estimates of $281.38 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Associated Banc’s revenue for the quarter was up 5.8% compared to the same quarter last year. analysts anticipate that Associated Banc will post 1.76 EPS for the current year.

Several equities analysts recently issued reports on the company. SunTrust Banks set a $26.00 price objective on Associated Banc and gave the company a “hold” rating in a research report on Saturday, October 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $27.00 price objective on shares of Associated Banc in a research report on Tuesday, January 9th. Barclays boosted their price objective on Associated Banc from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded Associated Banc from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, October 24th. Finally, Morgan Stanley boosted their price objective on Associated Banc from $25.50 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.30.

In other Associated Banc news, CEO Philip B. Flynn sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $25.08, for a total transaction of $250,800.00. Following the completion of the transaction, the chief executive officer now owns 122,457 shares of the company’s stock, valued at approximately $3,071,221.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Breck F. Hanson sold 11,373 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $24.92, for a total value of $283,415.16. Following the transaction, the insider now directly owns 37,722 shares of the company’s stock, valued at approximately $940,032.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,644 shares of company stock valued at $1,840,922. Insiders own 1.80% of the company’s stock.

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About Associated Banc

Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.

Dividend History for Associated Banc (NYSE:ASB)

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