Associated Banc-Corp (NYSE:ASB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Associated Banc-Corp (NYSE:ASB) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.30.

Several equities analysts have commented on ASB shares. Zacks Research downgraded shares of Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods boosted their price target on shares of Associated Banc from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Raymond James Financial reiterated an “outperform” rating and set a $31.00 target price on shares of Associated Banc in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays upgraded shares of Associated Banc from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, April 7th.

Insider Activity

In related news, 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 value of $112,720.00. Following the completion of the sale, the director directly owned 67,420 shares of the company’s stock, valued at $1,899,895.60. The trade was a 5.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John A. Utz sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $28.82, for a total transaction of $144,100.00. Following the completion of the sale, the executive vice president directly owned 118,156 shares of the company’s stock, valued at approximately $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,299 shares of company stock worth $801,760. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Associated Banc

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IAG Wealth Partners LLC raised its holdings in Associated Banc by 4,250.0% during the first 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 in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Associated Banc during the fourth quarter worth about $33,000. EverSource Wealth Advisors LLC raised its holdings in Associated Banc by 345.5% during the second 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 in the last quarter. CIBC Private Wealth Group LLC purchased a new position in Associated Banc during the third quarter worth about $51,000. Finally, Hoese & Co LLP purchased a new position in Associated Banc during the fourth quarter worth about $52,000. 82.98% of the stock is owned by hedge funds and other institutional investors.

Associated Banc Stock Performance

NYSE:ASB opened at $30.44 on Thursday. The company has a fifty day simple moving average of $28.20 and a two-hundred day simple moving average of $27.15. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. Associated Banc has a 52 week low of $23.63 and a 52 week high of $30.50.

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

Associated Banc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.2%. Associated Banc’s payout ratio is presently 33.33%.

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.