Analysts Set Associated Banc-Corp (NYSE:ASB) PT at $26.11

Shares of Associated Banc-Corp (NYSE:ASB - Get Free Report) have received an average rating of "Hold" from the ten analysts that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.00.

ASB has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Associated Banc from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $27.00 to $26.00 in a research report on Wednesday, April 9th. Barclays reduced their target price on Associated Banc from $28.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded shares of Associated Banc from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Finally, Raymond James restated an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a research report on Monday.

Associated Banc Stock Performance

Shares of NYSE ASB traded up $0.38 during midday trading on Friday, hitting $22.44. 101,902 shares of the company's stock were exchanged, compared to its average volume of 1,522,715. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.61. The company's 50 day moving average price is $21.79 and its 200 day moving average price is $23.87. Associated Banc has a 12 month low of $18.32 and a 12 month high of $28.18. The firm has a market capitalization of $3.72 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.52 and a beta of 0.78.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. The firm had revenue of $348.97 million during the quarter, compared to the consensus estimate of $347.86 million. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. As a group, analysts predict that Associated Banc will post 2.43 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Monday, June 2nd. Associated Banc's dividend payout ratio (DPR) is presently 106.98%.

Insider Activity at Associated Banc

In other Associated Banc news, Director Eileen A. Kamerick sold 7,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $24.71, for a total transaction of $172,970.00. Following the transaction, the director now directly owns 49,495 shares in the company, valued at approximately $1,223,021.45. This trade represents a 12.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Williams sold 2,830 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $25.09, for a total transaction of $71,004.70. Following the transaction, the director now owns 66,915 shares in the company, valued at approximately $1,678,897.35. This trade represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Associated Banc

Several large investors have recently added to or reduced their stakes in ASB. Xponance Inc. grew its holdings in Associated Banc by 3.0% during the 1st quarter. Xponance Inc. now owns 23,554 shares of the bank's stock valued at $531,000 after buying an additional 690 shares in the last quarter. State of Michigan Retirement System grew its position in Associated Banc by 3.2% during the first quarter. State of Michigan Retirement System now owns 39,278 shares of the bank's stock worth $885,000 after buying an additional 1,200 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Associated Banc by 69.1% during the 1st quarter. Cerity Partners LLC now owns 26,705 shares of the bank's stock valued at $602,000 after acquiring an additional 10,912 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Associated Banc during the 1st quarter valued at $442,000. Finally, Moody Aldrich Partners LLC purchased a new stake in Associated Banc during the first quarter valued at about $1,842,000. Hedge funds and other institutional investors own 82.98% of the company's stock.

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.