Associated Banc Corp (NYSE:ASB) has earned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.88.
Separately, Zacks Investment Research cut shares of Associated Banc from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.
In other Associated Banc news, Director Lith Karen Van sold 5,060 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $23.05, for a total transaction of $116,633.00. Following the completion of the transaction, the director now owns 45,991 shares in the company, valued at $1,060,092.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David L. Stein sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $23.12, for a total transaction of $115,600.00. Following the transaction, the insider now owns 49,685 shares of the company’s stock, valued at approximately $1,148,717.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,060 shares of company stock valued at $461,133. Corporate insiders own 2.69% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fort L.P. bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $25,000. Executive Wealth Management LLC bought a new position in shares of Associated Banc in the first quarter valued at approximately $25,000. Pearl River Capital LLC bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $43,000. Toronto Dominion Bank bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $70,000. Finally, Insight 2811 Inc. bought a new position in shares of Associated Banc in the fourth quarter valued at approximately $198,000. Hedge funds and other institutional investors own 73.30% of the company’s stock.
Shares of NYSE ASB traded up $0.26 during mid-day trading on Friday, hitting $20.76. The company had a trading volume of 19,212 shares, compared to its average volume of 1,050,659. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.91. The firm’s 50-day moving average price is $21.23. Associated Banc has a 12 month low of $18.53 and a 12 month high of $28.50. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.46 and a beta of 1.18.
Associated Banc (NYSE:ASB) last released its earnings results on Thursday, April 25th. The bank reported $0.50 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. Associated Banc had a net margin of 22.56% and a return on equity of 9.87%. The business had revenue of $306.75 million during the quarter, compared to analysts’ expectations of $312.90 million. During the same quarter last year, the company earned $0.40 earnings per share. Analysts anticipate that Associated Banc will post 2.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, May 31st. Associated Banc’s dividend payout ratio is 33.50%.
About Associated Banc
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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