Associated Banc-Corp (NYSE:ASB – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.85 and last traded at $31.7850, with a volume of 425321 shares traded. The stock had previously closed at $31.40.
Analyst Ratings Changes
A number of brokerages have weighed in on ASB. Robert W. Baird increased their target price on shares of Associated Banc from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Associated Banc in a report on Wednesday, June 24th. Raymond James Financial lifted their target price on Associated Banc from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Zacks Research downgraded Associated Banc from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Truist Financial upped their price objective on Associated Banc from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.10.
View Our Latest Stock Report on Associated Banc
Associated Banc Stock Up 1.5%
Associated Banc (NYSE:ASB – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $450.44 million for the quarter, compared to the consensus estimate of $438.01 million. Associated Banc had a net margin of 19.66% and a return on equity of 10.64%. During the same period in the previous year, the firm earned $0.65 EPS. On average, sell-side analysts expect that Associated Banc-Corp will post 2.9 EPS for the current fiscal year.
Associated Banc Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. Associated Banc’s dividend payout ratio (DPR) is presently 33.57%.
Insider Buying and Selling
In other Associated Banc news, EVP Dennis Deloye sold 14,299 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $28.26, for a total value of $404,089.74. Following the sale, the executive vice president directly owned 21,385 shares in the company, valued at approximately $604,340.10. The trade was a 40.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew R. Braeger sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $28.17, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,962 shares of company stock worth $1,233,303. 0.71% of the stock is owned by corporate insiders.
Institutional Trading of Associated Banc
Hedge funds and other institutional investors have recently made changes to their positions in the business. IAG Wealth Partners LLC grew its position in Associated Banc by 4,250.0% in the first quarter. IAG Wealth Partners LLC now owns 1,218 shares of the bank’s stock worth $31,000 after buying an additional 1,190 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Associated Banc during the 4th quarter worth $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of Associated Banc by 345.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the bank’s stock worth $33,000 after acquiring an additional 1,047 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Associated Banc during the third quarter worth $51,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Associated Banc during the fourth quarter valued at $56,000. 82.98% of the stock is currently owned by institutional investors.
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.
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