Associated Banc-Corp Announces Quarterly Dividend of $0.22 (NYSE:ASB)

Associated Banc-Corp (NYSE:ASB - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.22 per share by the bank on Monday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Monday, June 3rd.

Associated Banc has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Associated Banc has a payout ratio of 37.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Associated Banc to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 37.6%.

Associated Banc Stock Performance

Shares of NYSE ASB traded up $0.50 during mid-day trading on Wednesday, reaching $21.57. 1,579,107 shares of the company's stock were exchanged, compared to its average volume of 1,457,227. The firm has a 50-day moving average price of $20.82 and a two-hundred day moving average price of $19.90. Associated Banc has a 52 week low of $14.47 and a 52 week high of $22.16. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.86 and a quick ratio of 0.86.

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 (EPS) 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 business had revenue of $322.84 million for the quarter, compared to analysts' expectations of $325.00 million. During the same period in the previous year, the business posted $0.66 EPS. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. Analysts predict that Associated Banc will post 2.11 EPS for the current year.

Analyst Upgrades and Downgrades

ASB has been the topic of several analyst reports. Piper Sandler upped their price target on Associated Banc from $21.50 to $23.00 and gave the company a "neutral" rating in a research report on Friday, January 26th. Stephens reiterated an "equal weight" rating and set a $23.00 price target on shares of Associated Banc in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on Associated Banc from $20.00 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $23.00 price objective on shares of Associated Banc in a research report on Tuesday, April 9th. Finally, Raymond James upped their price objective on shares of Associated Banc from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $23.13.

Insiders Place Their Bets

In other Associated Banc news, Director John B. Williams sold 2,700 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total value of $52,785.00. Following the completion of the sale, the director now owns 62,876 shares of the company's stock, valued at $1,229,225.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Associated Banc news, EVP John A. Utz sold 14,010 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $21.20, for a total value of $297,012.00. Following the completion of the sale, the executive vice president now owns 89,880 shares of the company's stock, valued at $1,905,456. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Williams sold 2,700 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $19.55, for a total value of $52,785.00. Following the sale, the director now directly owns 62,876 shares of the company's stock, valued at approximately $1,229,225.80. The disclosure for this sale can be found here. Insiders sold a total of 26,729 shares of company stock valued at $561,450 over the last quarter. 1.45% of the stock is owned by corporate insiders.

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.