Shares of Associated Banc-Corp (NYSE:ASB) have received a consensus rating of "Hold" from the eleven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $16.14.
A number of equities analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Associated Banc from $14.50 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, September 29th. TheStreet raised shares of Associated Banc from a "c+" rating to a "b" rating in a research note on Thursday. Raymond James reissued a "hold" rating on shares of Associated Banc in a research note on Monday, September 14th. ValuEngine raised shares of Associated Banc from a "sell" rating to a "hold" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company raised shares of Associated Banc from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $16.00 to $18.00 in a research note on Thursday, October 8th.
In other Associated Banc news, EVP Patrick Edward Ahern sold 7,000 shares of the business's stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $15.40, for a total value of $107,800.00. 2.38% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its position in Associated Banc by 2.9% in the 3rd quarter. LPL Financial LLC now owns 23,587 shares of the bank's stock valued at $298,000 after buying an additional 671 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Associated Banc by 4.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 18,567 shares of the bank's stock valued at $254,000 after purchasing an additional 743 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Associated Banc by 5.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,612 shares of the bank's stock valued at $268,000 after purchasing an additional 979 shares in the last quarter. First Mercantile Trust Co. raised its holdings in shares of Associated Banc by 12.6% in the 2nd quarter. First Mercantile Trust Co. now owns 13,169 shares of the bank's stock valued at $180,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Associated Banc by 15.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,020 shares of the bank's stock valued at $152,000 after purchasing an additional 1,590 shares in the last quarter. 69.52% of the stock is owned by institutional investors.
Shares of NYSE ASB opened at $15.66 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $2.41 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.93 and a beta of 1.21. The firm's fifty day moving average is $14.12 and its two-hundred day moving average is $13.70. Associated Banc has a 52-week low of $10.23 and a 52-week high of $22.60.
Associated Banc (NYSE:ASB) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Associated Banc had a net margin of 20.66% and a return on equity of 5.68%. The business had revenue of $258.00 million during the quarter, compared to analysts' expectations of $268.77 million. During the same period last year, the company posted $0.49 EPS. The business's revenue was down 42.0% on a year-over-year basis. As a group, analysts forecast that Associated Banc will post 1.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.18 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.72 annualized dividend and a yield of 4.60%. Associated Banc's dividend payout ratio (DPR) is 36.55%.
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. Its Corporate and Commercial Specialty segment offers deposit and cash management solutions, such as commercial checking and interest-bearing deposit products, cash vault and night depository services, liquidity solutions, payables and receivables solutions, and information services; and lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset based lending, and loan syndications.
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