Media coverage about Associated Banc (NYSE:ASB) has trended somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Associated Banc earned a news impact score of 0.09 on Accern’s scale. Accern also assigned news coverage about the bank an impact score of 45.6382267719533 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of Associated Banc from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research lowered shares of Associated Banc from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Morgan Stanley decreased their price target on shares of Associated Banc from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, January 31st. Barclays reissued a “hold” rating and issued a $28.00 price target on shares of Associated Banc in a report on Tuesday, January 30th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price target on shares of Associated Banc in a report on Sunday, January 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.30.
Shares of Associated Banc stock traded down $0.50 during midday trading on Thursday, reaching $25.80. 230,781 shares of the company were exchanged, compared to its average volume of 1,496,137. The firm has a market cap of $3,981.81, a price-to-earnings ratio of 17.16, a PEG ratio of 2.12 and a beta of 1.03. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.90. Associated Banc has a 12-month low of $20.95 and a 12-month high of $27.20.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from Associated Banc’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. Associated Banc’s dividend payout ratio is currently 41.96%.
In other news, insider David L. Stein sold 15,400 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $25.40, for a total transaction of $391,160.00. Following the completion of the transaction, the insider now directly owns 36,685 shares in the company, valued at approximately $931,799. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John A. Utz sold 12,865 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $26.75, for a total transaction of $344,138.75. Following the transaction, the executive vice president now owns 42,384 shares of the company’s stock, valued at $1,133,772. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,018 shares of company stock valued at $3,633,598. Company insiders own 2.13% of the company’s stock.
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About Associated Banc
Associated Banc-Corp is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a range of banking and non-banking products and services to individuals. The Company operates through three segments: Corporate and Commercial Specialty; Community, Consumer, and Business, and Risk Management and Shared Services.
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