Associated Banc (NYSE:ASB) Hits New 12-Month High at $22.77

Associated Banc-Corp (NYSE:ASB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.77 and last traded at $22.60, with a volume of 49770 shares changing hands. The stock had previously closed at $22.37.

Wall Street Analysts Forecast Growth

ASB has been the subject of several recent research reports. Piper Sandler lifted their target price on shares of Associated Banc from $21.50 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, January 26th. Barclays boosted their price objective on Associated Banc from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Associated Banc from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $23.00 target price on shares of Associated Banc in a research note on Tuesday, April 9th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $23.00 price target on shares of Associated Banc in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $23.13.

Associated Banc Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day moving average of $21.10 and a 200 day moving average of $20.33. The firm has a market cap of $3.39 billion, a P/E ratio of 22.71, a PEG ratio of 1.31 and a beta of 0.99.

Associated Banc (NYSE:ASB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.03. Associated Banc had a return on equity of 8.31% and a net margin of 6.86%. The company had revenue of $322.84 million for the quarter, compared to analysts' expectations of $325.00 million. During the same period last year, the firm posted $0.66 EPS. Associated Banc's revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Associated Banc-Corp will post 2.11 EPS for the current year.

Associated Banc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Monday, June 3rd. Associated Banc's dividend payout ratio is currently 88.89%.

Insider Activity at Associated Banc

In related news, Director Eileen A. Kamerick sold 5,000 shares of Associated Banc stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the transaction, the director now directly owns 50,126 shares of the company's stock, valued at $1,053,648.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Associated Banc news, EVP Nicole M. Kitowski sold 5,019 shares of the company's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $21.23, for a total value of $106,553.37. Following the completion of the transaction, the executive vice president now directly owns 37,993 shares in the company, valued at approximately $806,591.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen A. Kamerick sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $21.02, for a total transaction of $105,100.00. Following the completion of the transaction, the director now directly owns 50,126 shares of the company's stock, valued at $1,053,648.52. The disclosure for this sale can be found here. Insiders sold 26,529 shares of company stock worth $564,115 in the last ninety days. 1.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. AlphaMark Advisors LLC grew its position in Associated Banc by 3.6% during the 4th quarter. AlphaMark Advisors LLC now owns 14,362 shares of the bank's stock valued at $307,000 after purchasing an additional 494 shares during the last quarter. Arizona State Retirement System increased its position in shares of Associated Banc by 1.4% during the third quarter. Arizona State Retirement System now owns 42,963 shares of the bank's stock valued at $735,000 after acquiring an additional 587 shares in the last quarter. KLCM Advisors Inc. raised its holdings in Associated Banc by 1.4% in the 4th quarter. KLCM Advisors Inc. now owns 45,081 shares of the bank's stock worth $964,000 after acquiring an additional 611 shares during the last quarter. Retirement Systems of Alabama lifted its position in Associated Banc by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 186,780 shares of the bank's stock valued at $4,018,000 after acquiring an additional 651 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Associated Banc by 2.2% during the 1st quarter. State of Michigan Retirement System now owns 36,478 shares of the bank's stock valued at $785,000 after purchasing an additional 800 shares during the last quarter. 82.98% of the stock is currently 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.