Associated Banc-Corp (NYSE:ASB) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Associated Banc-Corp has an average broker rating of "Moderate Buy", with six analysts rating it a hold and six rating it a buy. The average 12-month price target is $30.30.
• The company recently reported Q1 earnings of $0.70 per share, beating estimates by a penny, on revenue of $387.21 million, also above expectations. Analysts expect full-year EPS of 2.92.
• Insider activity has been negative, with two executive vice presidents selling shares in June and insiders selling 28,299 shares worth about $801,760 over the last quarter. Despite that, institutional investors still own 82.98% of the stock.

Associated Banc-Corp (NYSE:ASB - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $30.30.

A number of equities analysts recently issued reports on ASB shares. Robert W. Baird increased their price target on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Wall Street Zen downgraded Associated Banc from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Zacks Research downgraded Associated Banc from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Piper Sandler increased their price target on Associated Banc from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company increased their price target on Associated Banc from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, March 30th.

Insider Transactions at Associated Banc

In related news, EVP Matthew R. Braeger sold 5,000 shares of Associated Banc stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.17, for a total value of $140,850.00. Following the sale, the executive vice president directly owned 11,777 shares in the company, valued at approximately $331,758.09. The trade was a 29.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John A. Utz sold 5,000 shares of Associated Banc stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $28.82, for a total value of $144,100.00. Following the completion of the sale, the executive vice president owned 118,156 shares in the company, valued at approximately $3,405,255.92. The trade was a 4.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 28,299 shares of company stock valued at $801,760. 0.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Associated Banc

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in Associated Banc in the 1st quarter valued at approximately $210,000. Parallel Advisors LLC increased its holdings in Associated Banc by 27.7% in the 1st quarter. Parallel Advisors LLC now owns 3,305 shares of the bank's stock valued at $85,000 after purchasing an additional 717 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Associated Banc by 239.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,464 shares of the bank's stock valued at $115,000 after purchasing an additional 3,147 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Associated Banc by 27.6% in the 1st quarter. Glenmede Trust Co. NA now owns 13,625 shares of the bank's stock valued at $352,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Associated Banc by 24.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 13,206 shares of the bank's stock valued at $342,000 after purchasing an additional 2,577 shares during the last quarter. Hedge funds and other institutional investors own 82.98% of the company's stock.

Associated Banc Trading Up 1.9%

ASB opened at $30.44 on Thursday. Associated Banc has a one year low of $23.63 and a one year high of $30.50. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 1.73 and a beta of 0.77. The stock's 50 day moving average price is $28.20 and its 200-day moving average price is $27.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $387.21 million for the quarter, compared to analysts' expectations of $384.20 million. Associated Banc had a return on equity of 10.46% and a net margin of 19.88%.During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts forecast that Associated Banc will post 2.92 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.2%. Associated Banc's dividend payout ratio (DPR) is 33.33%.

Associated Banc Company Profile

Associated Banc-Corp, through its primary subsidiary Associated Bank, N.A., is a regional financial services company headquartered in Green Bay, Wisconsin. The bank operates more than 200 branches across the Midwest, offering community-focused banking solutions for individuals, small businesses and commercial clients. Its emphasis on personalized service and regional decision-making supports long-standing customer relationships.

On the consumer side, Associated Bank provides checking and savings accounts, residential mortgages, home equity lines of credit, auto financing and credit card products.

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