Associated Banc-Corp (NYSE:ASB) Receives Average Recommendation of "Hold" from Analysts

Associated Banc-Corp (NYSE:ASB - Get Free Report) has received an average recommendation of "Hold" from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $26.00.

ASB has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of Associated Banc from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $27.00 to $26.00 in a research report on Wednesday, April 9th. Barclays cut their target price on Associated Banc from $28.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Raymond James reiterated an "outperform" rating and issued a $27.00 price target on shares of Associated Banc in a research note on Monday, April 28th. Stephens dropped their price objective on Associated Banc from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods decreased their target price on Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th.

Associated Banc Stock Performance

Shares of Associated Banc stock opened at $22.79 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a fifty day moving average of $22.41 and a two-hundred day moving average of $23.51. 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 $3.78 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.52 and a beta of 0.79.

Associated Banc (NYSE:ASB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.02. Associated Banc had a net margin of 5.15% and a return on equity of 8.24%. The company had revenue of $348.97 million during the quarter, compared to analysts' expectations of $347.86 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. Associated Banc's quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts predict that Associated Banc will post 2.43 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, June 2nd. Associated Banc's payout ratio is 106.98%.

Insider Buying and Selling at Associated Banc

In related news, CEO Andrew J. Harmening acquired 12,910 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $300,157.50. Following the completion of the acquisition, the chief executive officer now directly owns 319,269 shares of the company's stock, valued at approximately $7,423,004.25. This trade represents a 4.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.45% of the company's stock.

Institutional Investors Weigh In On Associated Banc

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in Associated Banc by 6.6% during the 4th quarter. State of Alaska Department of Revenue now owns 18,355 shares of the bank's stock worth $438,000 after purchasing an additional 1,135 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Associated Banc by 8.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 44,700 shares of the bank's stock worth $1,068,000 after buying an additional 3,500 shares during the period. Rhumbline Advisers raised its stake in Associated Banc by 6.9% during the fourth quarter. Rhumbline Advisers now owns 539,766 shares of the bank's stock worth $12,900,000 after buying an additional 34,919 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Associated Banc by 7.2% in the fourth quarter. Principal Financial Group Inc. now owns 369,548 shares of the bank's stock valued at $8,832,000 after buying an additional 24,876 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Associated Banc by 33.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 42,217 shares of the bank's stock valued at $1,009,000 after buying an additional 10,583 shares during the period. Institutional investors and hedge funds own 82.98% of the company's stock.

About Associated Banc

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.

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