Brokerages Set Associated Banc-Corp (NYSE:ASB) PT at $28.11

Shares of Associated Banc-Corp (NYSE:ASB) have received an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.1111.

A number of research analysts have recently commented on ASB shares. Barclays lifted their price objective on shares of Associated Banc from $30.00 to $32.00 and gave the company a “positive” rating in a research report on Wednesday, October 8th. Truist Financial lifted their price target on Associated Banc from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, July 28th. Wells Fargo & Company upped their price objective on Associated Banc from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised their price objective on Associated Banc from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada boosted their target price on Associated Banc from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, October 10th.

Insider Buying and Selling

In related news, EVP Matthew R. Braeger sold 2,000 shares of Associated Banc stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the sale, the executive vice president owned 13,346 shares of the company’s stock, valued at approximately $351,533.64. The trade was a 13.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John A. Utz sold 13,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $27.24, for a total transaction of $354,120.00. Following the completion of the transaction, the executive vice president directly owned 111,228 shares in the company, valued at approximately $3,029,850.72. This represents a 10.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,342 shares of company stock valued at $494,360. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Associated Banc

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Associated Banc by 38.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,072 shares of the bank’s stock valued at $90,000 after buying an additional 1,122 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Associated Banc by 11.6% in the first quarter. GAMMA Investing LLC now owns 5,251 shares of the bank’s stock valued at $118,000 after acquiring an additional 547 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Associated Banc by 37.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,111 shares of the bank’s stock valued at $701,000 after acquiring an additional 8,459 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Associated Banc by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 19,210 shares of the bank’s stock valued at $432,000 after acquiring an additional 855 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in Associated Banc by 2.0% during the first quarter. Retirement Systems of Alabama now owns 199,530 shares of the bank’s stock worth $4,495,000 after acquiring an additional 3,869 shares during the period. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $25.35 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a 50 day moving average price of $25.92 and a 200 day moving average price of $24.26. The stock has a market capitalization of $4.20 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82. Associated Banc has a 52 week low of $18.32 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $366.98 million for the quarter, compared to analysts’ expectations of $362.78 million. Associated Banc had a return on equity of 8.86% and a net margin of 5.79%.During the same quarter in the prior year, the business posted $0.52 EPS. Analysts predict that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Associated Banc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. Associated Banc’s dividend payout ratio is presently 119.48%.

Associated Banc Company Profile

Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, personal and installment loans, auto finance and business loans, and business lines of credit.