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

Associated Banc-Corp (NYSE:ASB) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $31.00.

ASB has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Associated Banc from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Zacks Research downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods upped their target price on Associated Banc from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Truist Financial raised their target price on Associated Banc from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded Associated Banc from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd.

Insider Activity at Associated Banc

In related news, EVP Matthew R. Braeger sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value of $140,850.00. Following the completion of the sale, the executive vice president directly owned 11,777 shares of the company’s stock, valued at $331,758.09. The trade was a 29.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John A. Utz sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total value of $144,100.00. Following the transaction, the executive vice president directly owned 118,156 shares in the company, valued at approximately $3,405,255.92. This trade represents a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,299 shares of company stock valued at $801,760. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Associated Banc

Several hedge funds and other institutional investors have recently modified their holdings of ASB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Associated Banc by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,570 shares of the bank’s stock worth $2,198,000 after purchasing an additional 5,531 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Associated Banc by 90.4% during the first quarter. Millennium Management LLC now owns 287,890 shares of the bank’s stock valued at $6,486,000 after buying an additional 136,648 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Associated Banc by 139.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank’s stock worth $61,927,000 after acquiring an additional 1,598,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Associated Banc by 13.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 496,392 shares of the bank’s stock worth $11,184,000 after acquiring an additional 60,758 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Associated Banc in the 2nd quarter worth about $328,000. Institutional investors own 82.98% of the company’s stock.

Associated Banc Stock Down 0.2%

Shares of NYSE ASB opened at $31.27 on Monday. The company’s 50 day moving average price is $29.14 and its 200-day moving average price is $27.66. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90. Associated Banc has a 52-week low of $23.63 and a 52-week high of $31.83. The company has a market capitalization of $5.90 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.76.

Associated Banc (NYSE:ASB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Associated Banc had a net margin of 19.88% and a return on equity of 10.46%. The company had revenue of $387.21 million during the quarter, compared to analysts’ expectations of $384.20 million. During the same period in the prior year, the company posted $0.59 earnings per share. Equities analysts forecast that Associated Banc will post 2.91 earnings per share for the current year.

Associated Banc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, June 1st. Associated Banc’s dividend payout ratio (DPR) 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.