Associated Banc-Corp (NYSE:ASB) Declares Quarterly Dividend of $0.23

Associated Banc-Corp (NYSE:ASB) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.23 per share by the bank on Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 3.73%.

Associated Banc has raised its dividend by an average of 5.4% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Associated Banc has a dividend payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Associated Banc to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 39.8%.

Associated Banc Stock Performance

Shares of NYSE ASB opened at $24.66 on Wednesday. Associated Banc has a 12 month low of $19.40 and a 12 month high of $28.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.65. The company has a market cap of $3.73 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.07 and a beta of 0.94. The business’s 50 day moving average is $25.16 and its two-hundred day moving average is $23.48.

Associated Banc (NYSE:ASB) last released its earnings results on Thursday, January 23rd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Associated Banc had a net margin of 8.15% and a return on equity of 8.18%. On average, equities analysts expect that Associated Banc will post 2.15 EPS for the current year.

Insider Buying and Selling

In other news, EVP David L. Stein sold 29,536 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.43, for a total transaction of $810,172.48. Following the completion of the transaction, the executive vice president now directly owns 81,021 shares of the company’s stock, valued at $2,222,406.03. This trade represents a 26.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ASB has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Associated Banc from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Robert W. Baird lowered their price objective on Associated Banc from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Barclays upped their target price on Associated Banc from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. StockNews.com raised shares of Associated Banc from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of Associated Banc from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.78.

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.