Analysts Set Associated Banc-Corp (NYSE:ASB) PT at $26.00

Shares of Associated Banc-Corp (NYSE:ASB - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $26.00.

A number of research analysts have recently weighed in on the company. Truist Financial assumed coverage on Associated Banc in a report on Tuesday, May 13th. They issued a "hold" rating and a $26.00 target price on the stock. Barclays dropped 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. Keefe, Bruyette & Woods dropped their target price on Associated Banc from $29.00 to $27.00 and set a "market perform" rating on the stock in a report on Friday, April 25th. Stephens dropped their target price on 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, Raymond James Financial restated an "outperform" rating and issued a $27.00 target price on shares of Associated Banc in a report on Monday, April 28th.

Associated Banc Stock Up 1.0%

NYSE:ASB traded up $0.23 on Friday, hitting $22.86. The stock had a trading volume of 1,093,126 shares, compared to its average volume of 1,545,610. The business's fifty day moving average is $22.58 and its 200 day moving average is $23.46. The company has a market cap of $3.79 billion, a PE ratio of 26.58, a P/E/G ratio of 0.99 and a beta of 0.79. 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 has a 52 week low of $18.32 and a 52 week high of $28.18.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings results 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 return on equity of 8.47% and a net margin of 6.02%. The business had revenue of $348.97 million for the quarter, compared to analyst estimates of $347.86 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Associated Banc will post 2.43 EPS for the current fiscal year.

Associated Banc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, June 2nd. Associated Banc's payout ratio is 106.98%.

Insider Activity at Associated Banc

In other news, CEO Andrew J. Harmening bought 12,910 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $23.25 per share, with a total value of $300,157.50. Following the completion of the transaction, the chief executive officer now directly owns 319,269 shares of the company's stock, valued at $7,423,004.25. This represents a 4.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Associated Banc

A number of large investors have recently made changes to their positions in ASB. State of Alaska Department of Revenue boosted its holdings in shares of Associated Banc by 6.6% in the fourth quarter. State of Alaska Department of Revenue now owns 18,355 shares of the bank's stock worth $438,000 after acquiring an additional 1,135 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Associated Banc by 8.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 44,700 shares of the bank's stock worth $1,068,000 after acquiring an additional 3,500 shares during the period. Rhumbline Advisers boosted its stake in Associated Banc by 6.9% during the fourth quarter. Rhumbline Advisers now owns 539,766 shares of the bank's stock valued at $12,900,000 after buying an additional 34,919 shares during the period. Principal Financial Group Inc. boosted its stake in Associated Banc by 7.2% during 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 boosted its stake in Associated Banc by 33.5% during 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. 82.98% of the stock is owned by institutional investors.

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.