Associated Banc-Corp (NYSE:ASB) Given Consensus Rating of "Hold" by Brokerages

Shares of Associated Banc-Corp (NYSE:ASB - Get Free Report) have earned 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 recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $27.22.

A number of brokerages recently commented on ASB. Wells Fargo & Company upped their target price on Associated Banc from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday. Raymond James Financial restated an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a research note on Monday, April 28th. Barclays upped their target price on Associated Banc from $25.00 to $28.00 and gave the company an "equal weight" rating in a research note on Tuesday. Keefe, Bruyette & Woods cut their target price on Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Finally, Truist Financial began coverage on Associated Banc in a research report on Tuesday, May 13th. They issued a "hold" rating and a $26.00 price target on the stock.

Associated Banc Stock Performance

Shares of ASB stock traded down $0.17 during trading hours on Thursday, reaching $25.72. 169,148 shares of the company's stock were exchanged, compared to its average volume of 1,555,080. Associated Banc has a fifty-two week low of $18.32 and a fifty-two week high of $28.18. The stock has a market capitalization of $4.26 billion, a P/E ratio of 29.86, a P/E/G ratio of 1.13 and a beta of 0.80. The business has a fifty day moving average price of $23.84 and a 200-day moving average price of $23.39. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.58.

Associated Banc (NYSE:ASB - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. The business had revenue of $348.97 million during the quarter, compared to analyst estimates of $347.86 million. Associated Banc had a return on equity of 8.47% and a net margin of 6.02%. Associated Banc's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Analysts predict that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, June 2nd. Associated Banc's dividend payout ratio (DPR) is 106.98%.

Insider Activity at Associated Banc

In other Associated Banc news, CEO Andrew J. Harmening bought 12,910 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the acquisition, the chief executive officer owned 319,269 shares of the company's stock, valued at approximately $7,423,004.25. This trade represents a 4.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.45% of the company's stock.

Institutional Trading of Associated Banc

Large investors have recently made changes to their positions in the business. Quarry LP grew its holdings in shares of Associated Banc by 154.3% during the fourth quarter. Quarry LP now owns 1,073 shares of the bank's stock worth $26,000 after purchasing an additional 651 shares during the last quarter. Covestor Ltd grew its holdings in shares of Associated Banc by 221.0% during the fourth quarter. Covestor Ltd now owns 1,499 shares of the bank's stock worth $36,000 after purchasing an additional 1,032 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Associated Banc by 385.5% during the first quarter. Versant Capital Management Inc now owns 1,612 shares of the bank's stock worth $36,000 after purchasing an additional 1,280 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Associated Banc by 49.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,747 shares of the bank's stock worth $42,000 after purchasing an additional 579 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Associated Banc by 17.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,688 shares of the bank's stock valued at $83,000 after acquiring an additional 559 shares during the last quarter. 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.