Associated Banc's (ASB) Equal Weight Rating Reaffirmed at Stephens

Stephens reissued their equal weight rating on shares of Associated Banc (NYSE:ASB - Free Report) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $23.00 price target on the bank's stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reiterated a sector perform rating and set a $23.00 price objective on shares of Associated Banc in a research note on Tuesday, April 9th. Raymond James raised their target price on shares of Associated Banc from $21.00 to $25.00 and gave the company an outperform rating in a research note on Monday, January 29th. Barclays raised their price objective on shares of Associated Banc from $22.00 to $24.00 and gave the company an equal weight rating in a research report on Friday. Piper Sandler raised their price objective on shares of Associated Banc from $21.50 to $23.00 and gave the company a neutral rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company raised their target price 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Associated Banc presently has an average rating of Hold and an average target price of $23.13.

Associated Banc Trading Up 0.9 %

Shares of NYSE:ASB traded up $0.20 during trading on Friday, reaching $21.57. The stock had a trading volume of 2,239,466 shares, compared to its average volume of 1,442,059. The business has a fifty day moving average price of $20.79 and a 200-day moving average price of $19.75. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.62. The stock has a market cap of $3.25 billion, a P/E ratio of 19.16, a PEG ratio of 1.25 and a beta of 1.00. Associated Banc has a fifty-two week low of $14.47 and a fifty-two week high of $22.16.

Associated Banc (NYSE:ASB - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Associated Banc had a net margin of 8.12% and a return on equity of 8.90%. The firm had revenue of $322.84 million during the quarter, compared to analyst estimates of $325.00 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. Associated Banc's revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that Associated Banc will post 2.13 earnings per share for the current fiscal year.

Associated Banc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.88 annualized dividend and a yield of 4.08%. Associated Banc's dividend payout ratio is currently 77.88%.

Insiders Place Their Bets

In other Associated Banc news, Director John B. Williams sold 2,700 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $19.55, for a total transaction of $52,785.00. Following the completion of the sale, the director now directly owns 62,876 shares of the company's stock, valued at approximately $1,229,225.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John B. Williams sold 2,700 shares of the company's stock in a transaction dated 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 directly owns 62,876 shares of the company's stock, valued at approximately $1,229,225.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eileen A. Kamerick sold 5,000 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.02, for a total value of $105,100.00. Following the completion of the sale, 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. In the last three months, insiders sold 21,710 shares of company stock valued at $454,897. 1.45% of the stock is currently owned by insiders.

Institutional Trading of Associated Banc

Institutional investors and hedge funds have recently modified their holdings of the stock. Walleye Capital LLC acquired a new position in Associated Banc during the 3rd quarter worth approximately $7,561,000. AQR Capital Management LLC boosted its position in Associated Banc by 92.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,433,301 shares of the bank's stock worth $24,524,000 after acquiring an additional 687,552 shares during the last quarter. Deutsche Bank AG boosted its position in Associated Banc by 7.7% during the 3rd quarter. Deutsche Bank AG now owns 123,392 shares of the bank's stock worth $2,111,000 after acquiring an additional 8,836 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Associated Banc by 2,344.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 709,170 shares of the bank's stock worth $12,134,000 after acquiring an additional 680,161 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Associated Banc by 66.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 621,784 shares of the bank's stock worth $13,300,000 after purchasing an additional 247,507 shares in the last quarter. 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.