Associated Banc (NYSE:ASB) Upgraded at Stephens

Stephens upgraded shares of Associated Banc (NYSE:ASB) from an equal weight rating to an overweight rating in a report published on Friday morning, Marketbeat reports. They currently have $29.00 target price on the bank’s stock, down from their previous target price of $30.00.

Other equities analysts also recently issued reports about the company. Piper Sandler raised their price target on Associated Banc from $27.00 to $30.00 and gave the stock a “neutral” 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. Truist Financial lowered their target price on Associated Banc from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Monday, March 23rd. Zacks Research raised Associated Banc from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Associated Banc from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.20.

Associated Banc Trading Down 0.0%

Associated Banc stock opened at $24.86 on Friday. Associated Banc has a one year low of $18.32 and a one year high of $29.51. The business’s fifty day moving average is $26.68 and its 200 day moving average is $26.15. The stock has a market capitalization of $4.11 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.90.

Associated Banc (NYSE:ASB) last posted its earnings results 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. Associated Banc had a net margin of 19.31% and a return on equity of 10.25%. The business had revenue of $393.52 million for the quarter, compared to analysts’ expectations of $382.06 million. During the same quarter in the prior year, the business earned $0.72 EPS. On average, sell-side analysts predict 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, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.24 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.9%. Associated Banc’s dividend payout ratio (DPR) is currently 34.66%.

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

Insider Buying and Selling at Associated Banc

In other news, EVP Patrick Edward Ahern sold 14,731 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $29.03, for a total transaction of $427,640.93. Following the completion of the transaction, the executive vice president owned 39,401 shares in the company, valued at $1,143,811.03. This trade represents a 27.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Williams sold 2,325 shares of Associated Banc stock in a transaction dated Tuesday, February 3rd. The stock was 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 in the company, valued at $1,990,399.95. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 23,656 shares of company stock worth $677,789. Insiders own 0.71% of the company’s stock.

Institutional Trading of Associated Banc

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of Associated Banc by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 154,933 shares of the bank’s stock valued at $3,779,000 after acquiring an additional 394 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Associated Banc by 46.8% in the third 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. US Bancorp DE increased its position in Associated Banc by 0.5% in the third quarter. US Bancorp DE now owns 80,677 shares of the bank’s stock worth $2,074,000 after purchasing an additional 415 shares during the last quarter. LPL Financial LLC raised its stake in Associated Banc by 2.3% during the fourth quarter. LPL Financial LLC now owns 19,079 shares of the bank’s stock valued at $491,000 after purchasing an additional 426 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Associated Banc by 2.0% during the second quarter. Tidal Investments LLC now owns 27,354 shares of the bank’s stock valued at $667,000 after purchasing an additional 549 shares in the last quarter. Institutional investors 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.