Associated Banc-Corp (NYSE:ASB) Given Consensus Recommendation of "Hold" by Analysts

Associated Banc-Corp (NYSE:ASB - Get Free Report) has been given an average rating of "Hold" by the ten analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $26.78.

Several equities analysts recently issued reports on the stock. Truist Financial started coverage on shares of Associated Banc in a report on Tuesday, May 13th. They issued a "hold" rating and a $26.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $27.00 target price on shares of Associated Banc in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on shares of Associated Banc from $29.00 to $27.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Stephens dropped their price objective on shares of Associated Banc from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Barclays raised their price objective on shares of Associated Banc from $25.00 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday.

Insider Activity

In other news, CEO Andrew J. Harmening purchased 12,910 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was purchased 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Associated Banc by 8.7% in the fourth quarter. Vanguard Group Inc. now owns 18,066,871 shares of the bank's stock valued at $431,798,000 after buying an additional 1,444,068 shares in the last quarter. FMR LLC grew its position in Associated Banc by 9.4% in the 4th quarter. FMR LLC now owns 14,838,422 shares of the bank's stock valued at $354,638,000 after acquiring an additional 1,272,441 shares in the last quarter. Geode Capital Management LLC boosted its position in Associated Banc by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 3,849,649 shares of the bank's stock valued at $92,026,000 after buying an additional 265,378 shares during the period. Goldman Sachs Group Inc. raised its position in Associated Banc by 139.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,748,667 shares of the bank's stock valued at $61,927,000 after purchasing an additional 1,598,951 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Associated Banc by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,321,120 shares of the bank's stock worth $52,295,000 after acquiring an additional 72,685 shares during the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

Associated Banc Trading Up 0.2%

Associated Banc stock opened at $25.70 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50-day simple moving average of $23.77 and a 200 day simple moving average of $23.37. Associated Banc has a 52 week low of $18.32 and a 52 week high of $28.18. The stock has a market capitalization of $4.26 billion, a P/E ratio of 29.88, a PEG ratio of 1.13 and a beta of 0.80.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. The firm had revenue of $348.97 million for the quarter, compared to the consensus estimate of $347.86 million. Associated Banc had a net margin of 6.02% and a return on equity of 8.47%. The business's revenue for the quarter 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 expect that Associated Banc will post 2.43 earnings per share for the current year.

Associated Banc Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.